Gotcha! French cybersecurity startup MokN tricks attackers into surrendering stolen credentials, raises €2.6 million to expand to the U.S.

French cybersecurity startup MokN has secured €2.6 million in seed funding to expand its deception-based identity protection technology, marking a significant development in proactive cybersecurity. The funding, led by Moonfire, will facilitate the company's expansion into the U.S. market, addressing the growing problem of stolen credentials. This move underscores Europe's commitment to bolstering its digital security capabilities. MokN's innovative "phish-back" technology sets it apart in the cybersecurity landscape. This approach involves creating deceptive traps within a company's network, such as fake login portals. When attackers attempt to use stolen credentials on these decoys, the system alerts the security team, often before the stolen data is used for malicious purposes. The startup, founded in 2023 by Gautier Bugeon, has already been adopted by over 20 enterprises and achieved more than €1 million ARR within its first year. This investment in MokN aligns with a broader trend of early-stage investments in the European cybersecurity sector. Other startups are tackling overlapping challenges in areas such as autonomous cyber defense, AI fraud detection, misuse detection, biometric authentication, fraud prevention, business identity verification, and digital anonymity. The increasing funding demonstrates Europe's focus on developing indigenous solutions to protect its digital infrastructure and data from cyber threats. The expansion into the U.S. market represents a key strategic move for MokN, reflecting the global nature of cyber threats and the company's ambition to become a leader in the field of proactive identity protection. This also highlights the European tech sector's growing potential to compete internationally.