According to CoinDesk, analytics platform CoinScan has raised $6.3 million in funding to provide crypto users with data that could help minimize losses from exploits, hacks, and scams. The company's backers include Shalom Meckenzie, the largest individual shareholder in sports-betting company DraftKings, Mor Weizer, the CEO of gambling software development firm Playtech, and Tectona, a Tel Aviv Stock Exchange-listed digital asset trading firm.
CoinScan has been in development for two years and is now emerging from stealth mode to create products that assess a token's susceptibility to rug pulls, distribution, wallet holdings, and real-time buying and selling activities. Blockchain security firm Certik reported that losses from hacks, exploits, and scams in the crypto sector exceeded $1 billion by early September this year, highlighting the scale of the problem CoinScan aims to address.
