Blockchain analytics firm Chainalysis has acquired Hexagate, a Web3 security provider, to address the growing threat of crypto hacks and exploits. The acquisition enables Chainalysis to offer a comprehensive risk solution that includes prevention, compliance, and remediation. The integration of Hexagate's machine learning-powered tools will help detect and mitigate on-chain risks such as hacks and governance vulnerabilities. Hexagate has already safeguarded over $1 billion in customer funds through real-time threat detection. The acquisition comes at a time when crypto thefts continue to rise, with an 84% increase in stolen funds reported in the first seven months of 2024. CEO Jonathan Levin believes that with the right tools, Web3 can become the world's safest financial system.



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