Chainalysis Acquires Hexagate, Boosting World-Class Prevention Capabilities

Chainalysis Acquires Hexagate to Strengthen Web3 Security Solutions

Dubai — Chainalysis, a global leader in blockchain data and analytics, has announced the acquisition of Hexagate, a prominent provider of Web3 security solutions. Hexagate specializes in detecting and mitigating real-time threats such as cyber exploits, governance vulnerabilities, hacks, and financial risks. This acquisition significantly bolsters Chainalysis’ capabilities, enhancing its portfolio of blockchain data solutions with advanced preventive security features.Hexagate has built a strong reputation as a trusted security partner for blockchain entities, including chains, protocols, asset managers, and exchanges. Its comprehensive security suite includes tools for monitoring, threat mitigation, forensic analysis, and compliance. By integrating Hexagate’s expertise, Chainalysis aims to provide a more robust and holistic approach to blockchain risk management.

Jonathan Levin, Co-Founder and CEO of Chainalysis, emphasized the importance of the acquisition in advancing the company's mission to build trust in blockchain technologies. “I have long believed that in order to advance the Chainalysis mission to build trust in blockchains, we would need to expand our business beyond investigations and into prevention,” Levin stated. “The Hexagate team impressed me with their complete security suite for proactive prevention, including monitoring, mitigation, forensics, and compliance. Together, Chainalysis and Hexagate provide a holistic risk solution that includes prevention, compliance, and remediation.”The rapid adoption of Web3 technologies has introduced complex security challenges, with cyberattacks and exploits posing significant risks to decentralized ecosystems. By acquiring Hexagate, Chainalysis positions itself as a leader in addressing these challenges through innovative solutions that prioritize prevention and risk mitigation.

The integration of Hexagate’s security solutions with Chainalysis’ blockchain data tools will create a unified platform capable of addressing threats throughout the lifecycle of blockchain transactions. This holistic approach aims to enhance trust and confidence among users and stakeholders in the blockchain ecosystem.With this acquisition, Chainalysis reaffirms its commitment to evolving alongside the blockchain landscape. By incorporating Hexagate’s technology and expertise, the company is well-equipped to tackle emerging risks in the Web3 era while continuing to deliver innovative solutions for blockchain analytics and compliance.

This strategic move not only strengthens Chainalysis’ position in the blockchain industry but also sets a new benchmark for comprehensive risk management in the decentralized finance and Web3 space.Shashank Agrawal, Head of Protocol Security at Coinbase, emphasized the pivotal role Hexagate has played in enhancing on-chain security for the platform. “Hexagate has become an integral part of on-chain security at Coinbase. Their real-time on-chain threat and risk detection and Base ecosystem monitoring solution for all Base builders has provided us with the broadest coverage for Coinbase and Base, ensuring the safety of our users and reinforcing trust across anything we build or do on-chain,” Agrawal shared.

As the crypto ecosystem evolves, these capabilities will become increasingly crucial. The rise of smart contracts, which facilitate significant value transfers, underscores the necessity of robust security measures. With the growing adoption of stablecoins, enterprise layer 1 and layer 2 protocols, and wallet infrastructure, securing smart contracts is paramount to preventing fund loss across private sector entities. Furthermore, governments are expected to intensify monitoring efforts to address smart contracts associated with illicit funds, making solutions like those provided by Hexagate essential.Jonathan Levin, Co-Founder and CEO of Chainalysis, highlighted the broader implications of the acquisition. “We’re thrilled to welcome Hexagate to the team and to work together toward a safer, more transparent financial system.

Web3 is transparent by design, and with the right solutions, it can be the world’s safest financial system,” Levin concluded.The integration of Hexagate into Chainalysis marks a significant step forward in securing the blockchain ecosystem. By combining advanced threat detection with comprehensive risk management tools, this partnership aims to bolster trust and safety across decentralized finance and Web3 applications, reinforcing the foundational promise of transparency and security in the blockchain industry.