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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|Edited by Sheldon Reback
Updated Sep 21, 2023, 7:23 a.m. Published Sep 21, 2023, 7:00 a.m.
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(Vitaly Taranov/Unsplash)

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

HacksExploitsScamsFundingFundraisingDraftKings

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