We are pleased to announce our investment in KEKKAI, a cutting-edge solution addressing the security challenges prevalent in the Web 3.0 market. KEKKAI focuses on transparency and user protection and offers a comprehensive security layer for Web 3.0 transactions.

While the Web 3.0 market is growing globally, it presents major security issues in the industry. In 2022 alone, $3.7 billion has been lost due to fraud, which beats the previous record of $1.3 billion in 2021 by 189%.

Even experienced crypto investors have become victims of the fraud, illustrating that users are left exposed and vulnerable to risk when approving on-chain transactions.

Creating a transparent and secure environment where all users can enjoy Web3.0 with peace of mind

KEKKAI addresses the Web 3.0 issue by building a security layer for Web 3.0 transactions for individual and enterprise users as on a browser extension or a smartphone application. For Wallet and Dapp's providers, KEKKAI offers anti-fraud transaction simulation and risk detection API/SDK, which can be easily implemented on any application with less coding.

The solution offers key features such as risk warning, transaction simulation, and scam detection, which can be applied to transactions on over 100 chains.

Key Features

1. Risk Warning - If KEKKAI’s simulation detects risky transactions (gasless transactions, honeypots, etc.) that are usually difficult to understand, a warning will be issued
2. Transaction Simulation - KEKKAI can detect complex smart contracts and potential issues before trade execution, allowing KEKKAI to display expected trade outcomes before finalizing the trade. Assuming that you know the details of the transaction, you can carry it out with peace of mind.
3. Scam Detection - Based on the phishing site data accumulated by KEKKAI, a warning is issued the moment the user accesses the phishing site. It accumulates more and more with your use and cooperation.

By using a three-layer guarding mechanism that includes URL/address blacklisting, transaction simulation, and smart contract security detection, KEKKAI’s solution detects risks before executing the transactions.

Since its launch in December 2022, KEKKAI has gained close to 30k downloads. Additionally, it has established partnerships with key wallets such as Onekey and Coolwallet.

Meet the team behind KEKKAI

The Tokyo-based company, KEKKAI was founded by a passionate series entrepreneur Danny with experience in product management for over 6 years. Regison, Co-founder and CTO, is a full-stack engineer specializing in Web2.0/Web3.0 with experience working at Bytedance for 4 years. The team is comprised of top-tier engineers with experience working for Bytedance, Baidu, and Huawei.

Why we are excited to invest

Plug and Play invested in KEKKAI as the first Web 3.0 portfolio company in the Japanese market because we believe in KEKKAI's vision of creating an environment where all users can enjoy the world of Web 3.0 safely. Meanwhile, we were impressed by the talented young international founders with the vision to challenge the global market.

We’re thrilled to be part of the round alongside other major investors such as Decima Fund, Sora Ventures, and Skyland Ventures and we can’t wait to see the impact KEKKAI’s security solution will bring to the Web3.0 world.