Chaos Labs has just raised a $55 million Series A led by Haun Ventures, with participation from PayPal, Lightspeed, Galaxy Ventures, Wintermute, and new investors including F-Prime Capital, Slow Ventures, The Spartan Group. 🚀

📍 NYC-based Chaos Labs provides a blockchain security cloud platform, serving popular DeFi protocols such as Aave, GMX, and Jupiter.

🔍 Their technology helps manage risk and economic security, protecting $860 billion in transactions, $25 billion in loans, and $35 million in incentives for over 20 crypto protocols.

⚠️ DeFi faces many security challenges, with $1.4 billion stolen by mid-2024. Phishing accounted for $490 million, much higher than the $70 million lost due to smart contract errors.

🔧 Chaos Labs will use the capital to develop new products, updated in real-time based on market conditions.

💬 What do you think about the future of DeFi? Comment below!#Crypto#DeFi #Blockchain