quick shot:

• Binance Labs has led GoPlus Security Private Round II.
• GoPlus is developing a permissionless user-driven security infrastructure for web3.
• The web3 startup seeks to bolster its technology and create a market for web3 security services.

Binance has taken a leading role in funding GoPlus Security’s private Round 11. The web3 startup is building a permissionless user driven security infrastructure for web3. The company said it will use the latest fundraising to finance the expansion of its team and bolster its technology and create a market for security services.

GoPlus’ web3 security marketplace offers multi-dimensional risk detection with almost all major blockchains covered. The company wants to create a more user-friendly and secure infrastructure that attracts the best talent in the industry.

The real-time, dynamic, automated security detection platform covers a variety of web3 security issues, including those affecting tokens, NFTs, malicious addresses, transaction approvals, and smart contracts, among others.

According to GoPlus, its solution currently covers 13 blockchains, monitoring more than 2 million data calls daily, making it one of the largest security data providers in the space.

Commenting on the firm’s leadership role in the latest GoPlus private round, Yi He, Co-Founder of Binance and Head of Binance Labs, said: “Security is critical to the ever-growing Web3 ecosystem and community. By supporting consumer-facing solutions like Goplus Security, we look forward to seeing how end-user security services can evolve and prosper.”

On the other hand, Eskil, co-founder of GoPlus Security, said that the company’s main goals for the next stage in security infrastructure development include expanding Goplus Security API coverage to more blockchain networks, as well as as “build security”. service platform and security services market, and the construction of a decentralized security infrastructure”.

“The team is at the stage of incorporating 20 different types of security services and solutions, and further decentralizing the security service by using ZKP or modular blockchain technology. We are happy to be with Binance Labs on this journey,” added Eskil.

Web3 security has become one of the most exciting investment opportunities in the crypto space. Recently, Ankr, a leading web3 developer platform, announced that some of the liquidity providers had been affected by a $5 million hack exploiting the aBNBc smart contract.

According to a recent report from PeckShield, a web3 security alert protocol that can be accessed through a Chrome extension, nearly $3 billion has been lost through Web3 protocol vulnerabilities by 2022.

That’s almost double the $1.55 billion reported in 2021 and several times more compared to the $250 million lost in 2020.

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