Ido Ben-Natan and Raz Niv - Blockaid, and the Future of Crypto Security
Dec 20, 2023
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Edo and Ross, founders of Blockade, discuss their background in Israeli cyber intelligence units and their expertise in cybersecurity. They highlight the importance of protecting web3 customers and fostering a customer-first culture. They also delve into the motivations and origins of attackers in the crypto ecosystem, emphasizing the need for a defensive approach. Blockade's culture is centered around quality work and product development, prioritizing security partners early on. They explore the role of block IT engineers in tracking attack groups and defending crypto users. The chapter also examines bug bounties and security audits in crypto security, emphasizing proactive measures and running internal attack scenarios.
Blockaid founders emphasize the importance of early integration of security solutions and partnerships with ecosystem giants to improve security in the crypto space.
In the cybersecurity realm, defenders derive satisfaction from safeguarding users and continually improving security solutions in a cat and mouse game with attackers.
The founders of Blockaid draw inspiration from successful cybersecurity companies like CrowdStrike and CloudFlare and stress the importance of learning from their innovation and expertise.
Deep dives
Building a Security Solution for Crypto: The Blockade Story
Blockade founders, Edo and Ross, share the story behind their security solution for the crypto industry. Both founders served in Israeli cyber intelligence units, where they honed their skills in solving complex cybersecurity problems. Their separate dreams of starting startups eventually merged into a shared vision, leading to the creation of Blockade. The founders highlight the need for improved security in the crypto space, as attackers are continuously evolving. They discuss how Blockade's product sits across the entire transaction lifecycle, providing defense against hacks, phishing scams, and vulnerabilities. The founders also emphasize the importance of early integration of security solutions into product development and the value of partnerships with ecosystem giants. They mention Infernal as a notable group that Blockade has successfully deterred from its malicious activities.
The Thrill of Attacking and Defending in Cybersecurity
Edo and Ross explain that both attacking and defending hold their own excitement in the cybersecurity realm. While attackers are financially motivated to exploit vulnerabilities and steal assets, defenders like Blockade derive satisfaction from safeguarding users and driving attackers out of business. The founders highlight the continuous game of cat and mouse with attackers, and how it pushes Blockade to continually iterate and improve their security solution. They emphasize the intense focus and dedication required to protect users from evolving threats and the importance of a proactive approach to security.
Influences and Inspiration from Cybersecurity Giants
Drawing inspiration from cybersecurity companies like CrowdStrike and CloudFlare, the founders of Blockade admire their innovation, data-focused approach, and ability to handle massive amounts of traffic. They value how these companies have perfected the user experience while showcasing their expertise in the cybersecurity space. The founders acknowledge the importance of learning from the successes of these giants and staying true to their own data-driven approach in providing security solutions for the crypto industry.
The Value of Bug Bounties and Collaborative Security
Edo and Ross discuss the significance of bug bounties as a means to incentivize vulnerability discovery and improve overall security. While bug bounties are an important part of the solution, Blockade's focus is on proactive post-production security, providing real-time defense for users. They stress the need for security partners to be involved early in the product development cycle to ensure a comprehensive and secure ecosystem. The founders highlight the liquidity of vulnerabilities in the cryptocurrency space, where attackers have the choice to exploit vulnerabilities for personal gain or responsibly report them to projects. They believe that a customer-centric security approach alongside collaborative efforts can enhance overall security in the industry.
Maintaining a Strong Security Culture and Staying Ahead
Edo and Ross emphasize the unique culture at Blockade, influenced by their background in Israeli cyber intelligence units. They emphasize the importance of an intense focus on customer satisfaction and product performance. The founders highlight the continuous improvement and close collaboration with customers and engineers to stay ahead in the ever-evolving security landscape. They stress the need for maintaining a proactive approach and being one step ahead of attackers, constantly challenging themselves and anticipating future attack vectors.
In this episode, we chat with Ido Ben-Natan and Raz Niv, co-founders of Blockaid, a crypto security firm. They share their journey from the Israeli Defence Force cybersecurity unit to launching Blockaid, discussing their product and the importance of protecting web3 customers.
Later, we dig into Blockaid's approach to a stealth launch, fostering a customer-first culture, and scaling the product in a fast-moving market. We also discuss the landscape of malicious actors in crypto and their never ending game of cat and mouse to chase them away.
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