Coinbase and ConsenSys rely on Hexagate to protect their on-chain operations.
Now, analytics firm Chainalysis has acquired Hexagate, a Web3 security company specializing in detecting and mitigating real-time blockchain threats.
Hexagate focuses on identifying cyber exploits, hacks, and governance risks.
The company claims to have saved over $1 billion in customer funds by enabling quick responses to potential threats.
“Hexagate has become an integral part of on-chain security at Coinbase,” said Shashank Agrawal, head of protocol security at Coinbase.
Their real-time threat detection and monitoring for the Base ecosystem have provided the broadest coverage for Coinbase and Base.
With this acquisition, Chainalysis aims to offer comprehensive risk management, compliance, to help reduce financial losses from crypto thefts and build trust in blockchain technology.
