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 preserve their funds safe. The Israel-based firm screens blockchain networks and leverages machine studying to establish suspicious patterns and transactions in real-time. Hexagate’s clients embrace Coinbase and Consensys.
“I’ve lengthy believed that to be able to advance the Chainalysis mission to construct belief in blockchains, we would want to broaden our enterprise past investigations and into prevention,” stated Chainalysis Co-founder and CEO Jonathan Levin.
With billions of {dollars} in crypto stolen annually, 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 turn out to be extra essential as sensible contracts facilitate extra worth and using stablecoins develop. He additionally famous that governments are rising the monitoring of sensible 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 stream 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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