CUBE3.AI Launches Real-Time Web3 Transaction Security Platform to Block Malicious Threats

CUBE3.AI, the real-time web3 transaction security platform that blocks malicious threats, announced that its platform is generally available, and that it “has raised $8.2 million in seed funding led by Blockchange Ventures, with participation from Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB and TA Ventures. CUBE3 will use the funds to expand its platform and make web3 safer.”

Web3 has a major security gap cybercriminals “are exploiting: transaction security.” Today, the smart contract security stack “has two layers: code security and remediation. Code security is the first step when deploying a web3 application, and includes preemptive security audits, bug bounties and threat simulations.”

Remediation occurs after a hack and “includes monitoring, alerts and reports. Code security and remediation are important layers for securing web3 applications, but they remain vulnerable without real-time transaction security.”

According to Chainalysis, this web3 security gap “enabled $3.8 billion of funds to be drained from DeFi protocols alone in 2022.”

CUBE3.AI Founder and CEO Einaras Gravrock said:

“For every step forward we’ve taken in the web3 and DeFi industries in recent years, we take three steps back in consumer confidence after every exploit. Today, we introduced the next critical step in web3 security: real-time transaction security. Our platform leverages advanced machine learning algorithms to evaluate every transaction in real-time. In addition to detecting threats and sending alerts, it enables companies deploying smart contracts to block malicious transactions in real-time so they never have to pause their web3 applications.”

Prior to founding CUBE3, Gravrock founded and built CUJO AI – a leader “in network security that established the standard for how ISPs secure home networks.” Having built the business to protect more than two billion connected devices “in 50 million homes, CUJO was valued in excess of $100 million when Gravrock exited in 2019.”

Prior to CUJO, he co-founded Zenedge – “an AI-powered network security product that was acquired by Oracle in 2018.”

Today, he holds three patents “determining entity maliciousness using machine learning and other methodologies.” Gravrock is also “a member of the World Economic Forum’s Global Innovators Community.”

CUBE3’s Real-Time Web3 Transaction Security Platform

CUBE3’s platform has three products “that protect web3 applications against vulnerabilities, exploits and compliance risks: Detect, Protect and Manage.” CUBE3 is offering “the Detect and Manage products free of charge as a public utility to create a safer web3.”

CUBE3’s Detect product “features advanced machine learning algorithms that continuously monitor and rate every transaction, smart contract and wallet address with a Risk Score in three categories: fraud, cyber and compliance.”

CUBE3’s Protect product provides end-to-end protection “for web3 applications – from the user interface to the underlying smart contract code.”

It’s powered by “a Runtime Application Self-Protection (RASP) technology that blocks cyber exploits, fraud, vulnerabilities and compliance risks in real-time that are outside a company’s risk threshold.” The RASP can be “integrated into web3 applications via a lightweight SDK or by being embedded in the front-end user interface and the underlying smart contract code.”

Space and Time Co-Founder and CEO Nate Holiday said:

“For years, Web3 security meant conducting audits, running bug bounties and getting alerts after already getting hacked. Web3 companies have greater capabilities now to block exploits and focus more time and energy on what they do best – building great products. The future of web3 infrastructure relies on a secure data layer, and CUBE3 plays a pivotal role in accelerating time to value by ensuring robust security measures.”

CUBE3’s Manage product enables companies “to proactively monitor addresses, set up alerts and view reports, analytics and logs.”

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