NEW YORK, US -
Media OutReach Newswire - 4 July 2024 -
Mamori.xyz, an
automated blockchain value extraction system, has successfully raised
US$5 million in seed funding to advance its mission of revolutionizing
Web3 security and optimization. The round was led by
Blockchain Capital, with participation from
Velocity.Capital and
Web3.com.
The seed funding round also saw participation from notable angel
investors, including Grigore Rosu, Daniel Lubarov, Alex Watts, Bo Du,
Shujia Liang, Micheal Heinrich, Richard Adjei, and Antonio Viggiano.
Ryan Sproule, investor at Blockchain Capital, said, "We are very
excited to support Mamori.xyz in their vision to make smart contracts
more secure via modern advanced fuzzing techniques. By enhancing the
developer toolkit, this will enable developers to spot more
vulnerabilities earlier in a more scalable way."
Disrupting Web3 security with ML-enabled blockchain intelligence
Mamori.xyz is an automated value extraction system optimized for
blockchain security and value extraction, colloquially named a
ML-enabled pathfinder. Its technology addresses critical challenges in
the Web3 space, where cyber-attacks resulted in over US$2.4 billion in
losses in 2023 alone. Traditional auditing tools, based on historical
data, have proven inadequate in meeting the preventive security needs of
this rapidly evolving industry.
Mamori.xyz is augmenting Web3 security via an algorithm that caters to
major challenges and issues on blockchain-based software. Leveraging
ML-enabled value extraction systems to navigate and optimize blockchain
ecosystems, covering zero-day economic exploit detection, MEV
identification, and intent solving for transaction optimization,
Mamori.xyz creates a comprehensive solution that safeguards against
unknown vulnerabilities while maximizing blockchain efficiency and
profitability.
Multifaceted, future-proof solution for security and efficiency
Mamori.xyz addresses critical industry challenges by combining smart
contract auditing with value extraction capabilities. Its algorithm
adapts situationally to extract value from any blockchain-based
software, identifying vulnerabilities without any prior knowledge of
exploit methodologies (unknown unknowns).
The solution redefines Web3 security by moving beyond traditional
auditing to proactive, interdisciplinary technologies to mitigate
threats and optimize values. Its adaptive architecture offers
future-proof solutions to evolving blockchain ecosystem needs.
Grigore Rosu, Advisor of Mamori.xyz, Professor of Computer Science at
UIUC, Founder of Runtime Verification and Founder of Pi Squared,
said, "I am very excited to witness Mamori.xyz's mission to bring
advanced ML-integrated fuzzing techniques to smart contract security.
Their automated search and light specification approach form the perfect
complement to formal verification. We are closer than ever to a future
where smart contract developers get all the following at the push of a
button: Mamori.xyz's tools help eliminate programming errors while
learning the contract specification, semantics-based formal verification
tools prove the program correct wrt the specification, then the
correctness proof is ZK-ed and posted on-chain as verifiable evidence.
Programmatically verify, not trust, security audits."
Andy M. Lee, Founder of Mamori.xyz, said, "Mamori.xyz aims to
address the critical space within the blockchain space, where incidents
caused by cyber-attacks, technical and economic exploits, and
vulnerabilities in smart contracts or logic have led to significant
losses in the industry. We are honored to be supported by Blockchain
Capital, Velocity Capital, Web3.com and other angel investors in our
seed funding to help us further our mission to facilitate a new standard
in smart contract auditing, paving the way for mass adoption."
With this funding, Mamori.xyz is poised to disrupt the Web3 security
landscape by offering a multifaceted, future-proof solution that
addresses both security and efficiency concerns in blockchain
ecosystems. The system has entered the proof-of-concept stage,
successfully testing the algorithm's efficiency and feasibility of
integrating interdisciplinary intelligence based on Swarm Intelligence,
and demonstrating Mamori.xyz's ability to identify existing limitations
of security auditing techniques to protect against the "unknown
unknowns".
https://mamori.xyz/
https://www.twtter.com/mamori_xyz