Galaxy Digital and Paypal spearheaded raising the $20 million investment for Chaos Labs.
Large companies saw the bad period of the crypto market as an opportunity for investments. In this context, Paypal and Galaxy Digital have invested heavily in Chaos Labs.
Chaos Labs Raised Large Investments
Chaos Labs, the startup that provides services as an automated economic security system for crypto protocols, continues to attract attention day by day. A seed funding round led by Galaxy Digital and PayPal Ventures, in which the company participated, raised $20 million.
According to a press release, the incoming investments will be used to build and expand the suite of risk and security products for decentralized finance (DeFi) protocols.
According to a recent Chainalysis report, the vast majority of the record $3.8 billion worth of crypto assets stolen by hackers last year were seized from DeFi protocols.
Founded in October 2021, Chaos Labs provides services that provide DeFi protocols with customized automated security monitoring with threat prevention and a simulation engine that helps verify the protocol’s health and stability regardless of current market conditions.
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