Blockchain information platform Chainalysis has acquired web3 safety options supplier Hexagate.
Phrases of the deal weren’t disclosed.
The acquisition aligns with Chainalysis’ mission to construct belief in blockchain ecosystems by integrating Hexagate’s machine learning-based risk detection and prevention expertise, benefiting chains, protocols, and exchanges.
Blockchain information platform Chainalysis has acquired web3 safety options supplier Hexagate this week. Monetary phrases of the deal weren’t disclosed.
Hexagate’s safety options detect and mitigate real-time threats, together with cyber exploits, hacks, and governance and monetary dangers to assist chains, protocols, asset managers, and exchanges maintain their funds safe. The Israel-based firm screens blockchain networks and leverages machine studying to determine suspicious patterns and transactions in real-time. Hexagate’s prospects embody Coinbase and Consensys.
“I’ve lengthy believed that with the intention to advance the Chainalysis mission to construct belief in blockchains, we would want to broaden our enterprise past investigations and into prevention,” mentioned Chainalysis Co-founder and CEO Jonathan Levin.
With billions of {dollars} in crypto stolen every year, Chainalysis anticipates that Hexagate will assist create a safer monetary platform that fosters belief in options. Levin added that defending the crypto ecosystem will solely grow to be extra essential as good contracts facilitate extra worth and using stablecoins develop. He additionally famous that governments are growing the monitoring of good contracts related to illicit funds.
Chainalysis was based in 2014 and has raised $537 million. Amongst its choices are automated cryptocurrency transaction monitoring software program, investigation software program for tracing the movement of funds throughout blockchains, and profiles of cryptocurrency companies. In the present day’s deal marks the corporate’s third acquisition, following its buy of Transpose in 2023.
Photograph by Bich Tran
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