GK8 by Galaxy Overview
GK8 by Galaxy provides comprehensive self-custody technology for digital assets, enabling regulated self-custody, digital asset management, and token issuance. With its patented Impenetrable Vault and uMPC technology, GK8 empowers traditional financial institutions and crypto-native companies worldwide with the tools they need to navigate the digital asset economy with confidence. In a market where trust is an institution’s most valuable asset, GK8 protects the institution’s reputation by setting the highest standard for digital asset custody, paving the way for the mass adoption of digital assets.
Cumulative Funding Raised Over Time ($)
—Nov 2018
$8.0MOct 2020
$12.0MSep 2019
Latest News
growth-positive
Galaxy Digital Wins Auction to Buy GK8 From Bankrupt Crypto Lender Celsius
Galaxy Digital, the cryptocurrency-focused financial-services firm, has acquired self-custody platform GK8 from Celsius Network. The terms of the deal were not disclosed, but it was reported to be significantly less than what Celsius paid a year ago. The acquisition will allow Galaxy Digital to expand its prime brokerage offering and add around 40 people to its team. The deal is subject to regulatory approval and will also give Galaxy Digital a new office in Tel Aviv, Israel. This move comes after Celsius filed for bankruptcy protection and put some of its assets up for sale. Galaxy Digital had previously abandoned its plan to acquire BitGo for $1.2 billion.
PartnersExpand
growth-positive
Crypto powerhouse Celsius acquiring Israeli startup GK8 for $115 million
Celsius, an Israeli-American crypto company, is acquiring Israeli cybersecurity company GK8 for $115 million. GK8 provides financial institutions with an on-premise end-to-end platform for safekeeping and managing digital assets. Celsius recently raised $400 million at a $3 billion valuation, and some of those funds will be used for this acquisition. GK8, founded by Lior Lamesh and Shahar Shamai, offers digital assets cybersecurity and management services and a technology that enables blockchain transactions without a direct internet connection. The company has collaborated with Chainalysis to help financial institutions identify high-risk activity. Celsius co-founder and COO Daniel Leon expressed excitement about the acquisition and its potential to expand into new sectors while maintaining cybersecurity capabilities.
Acquisition
growth-positive
Israeli startup GK8 partners with Chainalysis on blockchain fraud security
Israeli blockchain security startup GK8 has partnered with US-based Chainalysis to integrate its custody platform with Chainalysis KYT (Know Your Transaction), a compliance solution that provides real-time transaction monitoring of large volumes of cryptocurrency activity to identify high-risk transactions. This partnership will enhance the security measures for GK8s financial-focused customer base and help prevent money laundering attempts. The integration of Chainalysis to GK8s platform is seen as a big step forward in legitimizing digital currency and turning it into a mainstream investment channel. The article highlights the importance of building trusted and secure infrastructure for the cryptocurrency industrys growth.
Partners
growth-positive
INX exchange taps Israeli crypto startup GK8 for crypto custody
INX, a cryptocurrency firm, has chosen Israeli crypto startup GK8 for digital asset custody for its upcoming crypto exchange. INX plans to raise $117 million from its ongoing security token IPO and has already raised $7.5 million. GK8s end-to-end platform, including its patented air-gapped vault, will be used to manage and safeguard digital assets offline. GK8 is known for its ability to store and transact crypto without an internet connection. The Israeli social investment giant eToro is one of GK8s customers. The article emphasizes the importance of offline storage for crypto assets.
InvestmentPublic Trading
growth-negative
Israeli cyber startup discovers Blockchain weakness that could potentially leak millions
Israeli blockchain cyber startup GK8 has identified vulnerabilities in Multi-Party-Computation (MPC) networks, which can hamper the adoption of digital assets by financial institutions and banks. The vulnerabilities include the reliance on the network of co-signers to be always connected to the internet and the size of the MPC network being deployed. To address these vulnerabilities, GK8 has developed an air-tight vault that is never connected to the internet and a patented solution to add dozens of PCs to the custodian MPC network without impacting network performance. The demand for crypto services creates a strong incentive for banks to enter the cryptocurrency domain, but security risks are a concern. GK8s investors and advisory board include Marius Nacht, Israel Discount Bank, Professor Eran Tromer, and Ilan Levanon.
Customers
| Sector | Cyber Security |
Funding
| Total funding | $12M |
| Last funding | $8M |
| Stage | Acquired |
| Rounds | 3 |
| Investors | 8 |
Team Members
9
Employees: 51-200
Web & Social Links
| Website | www.gk8.io/ |
| Careers | Careers page |
Locations
Abba Hillel Silver Rd 21, Ramat Gan, Israel
Photos & Videos
2 item(s)
GK8 by Galaxy Business
Business models
B2B
Product stage
Released
Employees
51-200
Sector
Cyber SecurityNetwork & Infrastructure SecurityTarget Customer
Financial ServicesFinancial InstitutionsBanksCore Technology
CryptographyTokenizationPlatforms & InterfacesSoftwareTags (7)
financial-institutionsblockchaincyber-securitycryptographypatent-pendingdigital-assetstokenizationGeographic Markets
United Arab EmiratesJapanGlobalGK8 by Galaxy Financials
$12M
Total funding
Undisclosed
Capital raised
$8M
Last funding
Acquired
Funding stage
3
Total rounds
8
Investors
Cumulative Funding Raised Over Time ($)
—Nov 2018
$8.0MOct 2020
$12.0MSep 2019
Private Equity Funding
A Round
Oct 2020
$8M
IN Venture, Eden Block
Seed
Sep 2019
$4M
Discount Capital (Lead)
,
iAngels, IDEAL-HLS, Israel Innovation Authority, Eden Block, Marius Nacht
Seed
Nov 2018
Undisclosed
Rafi Gidron
Public Offering / Exit
MNAEvent
Feb 2023
Undisclosed
GK8 by Galaxy Lifecycle
Cumulative Funding Raised Over Time
—Nov 2018
$8.0MOct 2020
$12.0MSep 2019
All Events
A Round
Oct 2020
$8M
IN Venture, Eden Block
Seed
Sep 2019
$4M
Discount Capital (Lead)
,
iAngels, IDEAL-HLS, Israel Innovation Authority, Eden Block, Marius Nacht
Seed
Nov 2018
Undisclosed
Rafi Gidron
MNAEvent
Feb 2023
Undisclosed
GK8 by Galaxy News
8 articles
growth-positive
Galaxy Digital Wins Auction to Buy GK8 From Bankrupt Crypto Lender Celsius
Galaxy Digital, the cryptocurrency-focused financial-services firm, has acquired self-custody platform GK8 from Celsius Network. The terms of the deal were not disclosed, but it was reported to be significantly less than what Celsius paid a year ago. The acquisition will allow Galaxy Digital to expand its prime brokerage offering and add around 40 people to its team. The deal is subject to regulatory approval and will also give Galaxy Digital a new office in Tel Aviv, Israel. This move comes after Celsius filed for bankruptcy protection and put some of its assets up for sale. Galaxy Digital had previously abandoned its plan to acquire BitGo for $1.2 billion.
PartnersExpand
growth-positive
Crypto powerhouse Celsius acquiring Israeli startup GK8 for $115 million
Celsius, an Israeli-American crypto company, is acquiring Israeli cybersecurity company GK8 for $115 million. GK8 provides financial institutions with an on-premise end-to-end platform for safekeeping and managing digital assets. Celsius recently raised $400 million at a $3 billion valuation, and some of those funds will be used for this acquisition. GK8, founded by Lior Lamesh and Shahar Shamai, offers digital assets cybersecurity and management services and a technology that enables blockchain transactions without a direct internet connection. The company has collaborated with Chainalysis to help financial institutions identify high-risk activity. Celsius co-founder and COO Daniel Leon expressed excitement about the acquisition and its potential to expand into new sectors while maintaining cybersecurity capabilities.
Acquisition
growth-positive
Israeli startup GK8 partners with Chainalysis on blockchain fraud security
Israeli blockchain security startup GK8 has partnered with US-based Chainalysis to integrate its custody platform with Chainalysis KYT (Know Your Transaction), a compliance solution that provides real-time transaction monitoring of large volumes of cryptocurrency activity to identify high-risk transactions. This partnership will enhance the security measures for GK8s financial-focused customer base and help prevent money laundering attempts. The integration of Chainalysis to GK8s platform is seen as a big step forward in legitimizing digital currency and turning it into a mainstream investment channel. The article highlights the importance of building trusted and secure infrastructure for the cryptocurrency industrys growth.
Partners
growth-positive
INX exchange taps Israeli crypto startup GK8 for crypto custody
INX, a cryptocurrency firm, has chosen Israeli crypto startup GK8 for digital asset custody for its upcoming crypto exchange. INX plans to raise $117 million from its ongoing security token IPO and has already raised $7.5 million. GK8s end-to-end platform, including its patented air-gapped vault, will be used to manage and safeguard digital assets offline. GK8 is known for its ability to store and transact crypto without an internet connection. The Israeli social investment giant eToro is one of GK8s customers. The article emphasizes the importance of offline storage for crypto assets.
InvestmentPublic Trading
growth-negative
Israeli cyber startup discovers Blockchain weakness that could potentially leak millions
Israeli blockchain cyber startup GK8 has identified vulnerabilities in Multi-Party-Computation (MPC) networks, which can hamper the adoption of digital assets by financial institutions and banks. The vulnerabilities include the reliance on the network of co-signers to be always connected to the internet and the size of the MPC network being deployed. To address these vulnerabilities, GK8 has developed an air-tight vault that is never connected to the internet and a patented solution to add dozens of PCs to the custodian MPC network without impacting network performance. The demand for crypto services creates a strong incentive for banks to enter the cryptocurrency domain, but security risks are a concern. GK8s investors and advisory board include Marius Nacht, Israel Discount Bank, Professor Eran Tromer, and Ilan Levanon.
Customers
growth-positive
Aon partners with GK8 on digital asset coverage - Reinsurance News
GK8, a cyber security company, has partnered with Aon UK Ltd to offer insurance coverage for its digital asset custody system. The insurance, provided by a panel of insurers led by Arch Underwriting, will allow GK8 clients to protect their assets under custody up to a coverage cap of potentially $500 million. The policy covers internal and external theft, loss, damage, or destruction of assets stored in GK8s cold wallet. GK8s technology enables financial institutions to manage digital assets securely without direct or indirect internet connection. The partnership with Aon UK Ltd provides pre-negotiated insurance coverage for GK8 clients who comply with the companys security recommendations.
Partners
growth-positive
Israeli Startup Creates Offline Crypto Wallet with Online Connectivity
Israeli startup GK8 has launched a cold-storage crypto wallet with on-network transfer capabilities. The technology aims to eliminate the risks associated with internet-accessible crypto wallets, such as hacks and unexplained losses, while maintaining their convenience. The wallet is linked directly to the blockchain via a unidirectional connection, allowing it to transfer assets as conventional wallets do. GK8 has secured five patents for its technology. The company, founded by veterans of Israeli cybersecurity, raised $4 million in seed funding from a series of Israeli investment firms, including the government-run Israel Innovation Authority.
InvestmentCustomers
growth-positive
Blockchain deals without Internet co GK8 raises $4m
Israeli startup GK8 has raised $4 million in a seed funding round led by Marius Nacht and Israel Discount Capital. GK8 provides secure end-to-end management of digital assets using its patented technology that allows transactions to be sent to the blockchain without an internet connection. The companys custodian technology is already being used by clients such as eToro, and GK8s customers manage over $1 billion in digital assets. GK8s proprietary cryptographic techniques enable real-time blockchain transactions and eliminate cybersecurity vulnerabilities. The company has developed the worlds first secured cold wallet with hot wallet functionalities. GK8s solution has the backing of leading cybersecurity opinion leaders, partners, and investors.
Investment
GK8 by Galaxy Team
Daniel Sevitt
Head of Content
Employee Info
| Employees (range) | 51-200 |
| Exact count | 78 |
| Team members | 9 |
Similar Companies
Similar companies data is computed dynamically and not stored in the entity profile. This section requires implementing a similarity query (e.g. by classification overlap, sector, district).
This entity has 9 classification IDs that could be used for matching.
GK8 by Galaxy Internal
Recent Updates
No update log entries.
Note: Free-text notes visible in the original Finder "Internal" tab are not present in the imported profile data. Only the update audit log is available.
Admin Info
| Confidence | 91/100 |
| Missing | markets, not claimed |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515881209 |
| Crunchbase | gk8 |
| Phone | +972774052406 |
| Last updater | Yanina Wainscheinker |
| Updater email | yanina.wainscheinker@sncentral.org |
| Last update | 2022-12-12T00:00:00.000Z |
| Created | 2018-07-15T00:00:00.000Z |
| Claimed | Yes |
| Status detail | Acquired by Galaxy on Feb, 2023 |