Shield, a blockchain security start-up focused on protecting users from online scams, has raised $2.1 million in pre-seed funding from Kraken Ventures, Eterna Capital, Alchemy, Moonpay, and a number of leading security investors.

Co-founded by Luis Carchi (Princeton University, Ex-Facebook), Isaiah Udotong (MIT, Y-Combinator alumni), and Emmanuel Udotong (Princeton University, ex-McKinsey), Shield aims to revolutionise internet security by developing products that encourage growth and innovation while maintaining the highest security standards.

Shield helps organisations adopt comprehensive security measures to prevent crypto exploits and increase user trust across the ecosystem.

While smart contracts have been the primary focus in surveying the crypto security landscape, Shield has identified that 1 in 3 crypto attacks are caused by compromised private keys or front-end spoofing, which are not contract-related. Simply auditing and monitoring smart contracts is insufficient to mitigate such risks. Therefore, Shield is developing automated protections that address frequently neglected attack vectors and fill the gap in crypto security.

With an API that enables integration with any product, Shield's security stack currently claims to safeguard over 350,000 users. The company's clientele includes renowned brands such as Fox Sports, Rarible, and Guild.xyz.

Image : Shield founders left to right: Emmanuel Udotong, Isaiah Udotong, and Luis Carchi.