Blockchain data company Chainalysis plans to shift its focus from investigating Web3 violations to preventing them. This week, the U.S.-based company announced the acquisition of Tel Aviv-based Web3 security company Hexagate. The deal finalized undisclosed quantities, consistent with Chainalysis’ strategic growth plan for the coming year.
Hexagate provides a suite of tools for Web3 security, including risk reduction, forensic analysis and compliance, serving major crypto companies such as Coinbase, Polygon, UnisWap and Consensys. According to the official statement, these capabilities have attracted the attention of chain analysis.
Commenting on this development, Johathan Levin, CEO of Chainalysis, said: “In the past two years, they (Hexagate) have detected all known hacks and have detected more than 98% of them before it happens. They are about accuracy and collaboration.” The commitment reminds me of our own team.”
Levin notes that crypto hackers have replaced billions of dollars from the crypto ecosystem in recent years – otherwise, internationally, this has the potential to provide the safest financial system internationally. For example, in February, a chain analysis report said payments from crypto-related ransom attacks doubled to a record $1 billion (about Rs 83,04 crore) in 2023.
“No need to be. Web3 is transparent by design and with the right solution, it can be the safest financial system in the world.
Chain Analysis has released an official update on breeding on X.
https://x.com/chainalysis/status/1869369317336215861
With Hexagate now integrated into chain analytics, the team of the group will focus on developing advanced security tools to protect smart contracts, stable contracts, wallet infrastructure, and layer 1 and layer 2 blockchain networks from malicious threats.
Going forward, Chain Analytics predicts that global governments will strengthen monitoring of smart contracts to identify those potentially linked to illegal funds. The company plans to deepen its cooperation with these governments to enhance tracking of illegal financial activities.
