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DraftKings' Billionaire-Backed Crypto Analytics Firm CoinScan Raises $6.3M

The company is backed by Shalom Meckenzie, the largest individual shareholder in sports betting company DraftKings.

By Jamie Crawley
AccessTimeIconSep 21, 2023 at 7:00 a.m. UTC
Updated Sep 21, 2023 at 7:23 a.m. UTC
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CoinScan, an analytics platform aiming to provide crypto users with data that could help reduce losses from exploits, hacks and scams, said it has raised $6.3 million in funding.

The company is backed by Shalom Meckenzie, the largest individual shareholder in sports-betting company DraftKings (DKNG), Mor Weizer, the CEO of gambling software development firm Playtech (PTEC) and Tectona (TECT), a Tel Aviv Stock Exchange-listed digital asset trading firm.

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    • CoinScan, which has been under development for two years, is emerging from stealth to develop products that help assess a token's susceptibility to rug pulls or its distribution, wallet holdings and buying and selling activities in real time.

    Losses from hacks, exploits and scams across the crypto sector this year topped $1 billion by early September, according to blockchain security firm Certik, shining a light on the scale of the problem CoinScan is seeking to help address.

    Read More: Coinbase Earned $1M Amid Hack, but Hasn't Reimbursed Victims

    Edited by Sheldon Reback.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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