Blockchain intelligence platform TRM Labs closed a $70 million Series C, valuing the company at $1 billion and making it the latest crypto unicorn.
The round was led by seed investor Blockchain Capital, with participation from Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Thoma Bravo, Citi Ventures and Galaxy Ventures, the company said.
TRM builds AI-driven tools for public and private institutions to detect and disrupt cybercrime and illicit activity that increasingly leverage automation. Esteban Castaño, TRM’s co-founder and CEO, said the company is “building AI for problems that have real consequences for public safety, financial integrity, and national security.” He added the funding will help the team innovate with institutions facing consequential threats and expand protections for critical systems.
TRM, headquartered in San Francisco with hubs in Los Angeles, New York, Washington, London and Singapore, plans to use the new capital to grow its global team of AI researchers, data scientists, engineers and financial-crime experts. The company will advance AI-powered investigations to disrupt illicit actors and broaden solutions that help institutions manage financial-crime risk.
The financing underscores continued investor interest in blockchain analytics firms aiming to counter AI-enabled scams and cyberattacks, including support from large, traditional financial and venture firms.
Phishing and other crypto scams have resurged with generative AI advances, where attackers use fraudulent links and synthetic media to trick victims into revealing wallet keys or transferring funds. In one notable case, a Bitcoin investor lost his retirement fund in an AI-driven romance “pig butchering” scam that used AI-generated images to manipulate the victim.
Despite high-profile incidents, some data suggest improving defenses. A report from Web3 security tool Scam Sniffer found phishing losses fell about 83% year‑on‑year, from $494 million in 2024 to $83.3 million in 2025, and the number of victims declined. Monthly loss and victim charts for 2025 indicate a drop in incidents, suggesting investors and platforms are getting better at safeguarding assets.
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