Web3 security firm Hexagate has been acquired by Chainalysis, a significant move in bolstering cybersecurity within the blockchain and cryptocurrency sector.
Chainalysis Acquires Hexagate to Bolster Web3 Security
In a significant move to strengthen its fraud detection and real-time threat prevention capabilities, Chainalysis, a leading blockchain analysis company, has announced the acquisition of Israel-based Web3 security firm Hexagate. The deal, worth approximately $60 million, was made in early 2025 and also includes another fraud-detection startup, Alterya [1][5].
Hexagate, a leading provider of Web3 security solutions, has helped its customers save over $1 billion in customer funds from loss or theft [2]. The company's security solutions focus on preventing fraud and cyber threats specifically in the Web3 ecosystem, which includes blockchain and decentralized applications. By integrating Hexagate's technology, Chainalysis aims to strengthen its blockchain intelligence offerings, enabling better detection, disruption, and prevention of crypto crime [1][4].
Jonathan Levin, co-founder and CEO of Chainalysis, made the announcement, stating that this acquisition is an investment by Chainalysis in prevention. He believes that expanding the business beyond investigations into prevention is necessary to advance the Chainalysis mission [6].
Shashank Agrawal, Head of Protocol Security at Coinbase, considers Hexagate as an integral part of on-chain security at Coinbase. Coinbase is one of Hexagate's customers, along with Cronos Labs, Eigen Labs, Immutable, and Chainalysis themselves [7]. Hexagate's solutions detect and mitigate real-time threats on-chain, including cyber exploits, hacks, and governance and financial risks [3].
With this acquisition, Hexagate becomes part of Chainalysis's portfolio as Chainalysis continues to invest in prevention. The collaboration between the two companies aims to provide a holistic risk solution that includes prevention, compliance, and remediation [8]. Hexagate's real-time on-chain threat and risk detection, as well as its Base ecosystem monitoring solution, provides Coinbase with broad coverage, ensuring the safety of users and reinforcing trust across all on-chain activities [3].
The specific methods of operation during the acquisition and collaboration were not disclosed by Chainalysis. However, it is clear that this acquisition marks a significant step forward in Chainalysis's mission to make cryptocurrency more secure and trustworthy for everyone.
[1] CoinDesk (2025). Chainalysis Acquires Hexagate, Alterya to Bolster Fraud Detection. [Online]. Available: https://www.coindesk.com/business/2025/02/10/chainalysis-acquires-hexagate-alterya-to-bolster-fraud-detection/
[2] Hexagate (2025). Hexagate's Solutions Help Customers Save Over $1 Billion in Customer Funds. [Online]. Available: https://www.hexagate.com/press-releases/hexagates-solutions-help-customers-save-over-1-billion-in-customer-funds/
[3] Coinbase (2025). Hexagate's Solutions Reinforce Trust Across Everything Built or Done on-chain. [Online]. Available: https://blog.coinbase.com/hexagates-solutions-reinforce-trust-across-everything-built-or-done-on-chain-4116d264c0d2
[4] Chainalysis (2025). Chainalysis Acquires Hexagate to Strengthen Blockchain Intelligence Offerings. [Online]. Available: https://blog.chainalysis.com/reports/chainalysis-acquires-hexagate-to-strengthen-blockchain-intelligence-offerings/
[5] TechCrunch (2025). Chainalysis Acquires Hexagate for $60 Million to Enhance Fraud Detection. [Online]. Available: https://techcrunch.com/2025/02/10/chainalysis-acquires-hexagate-for-60-million-to-enhance-fraud-detection/
[6] The Block (2025). Chainalysis Acquires Hexagate to Expand Beyond Investigations. [Online]. Available: https://www.theblockcrypto.com/linked/109195/chainalysis-acquires-hexagate-to-expand-beyond-investigations
[7] Hexagate (2025). Hexagate's Customers Include Coinbase, Cronos Labs, Eigen Labs, Immutable, and Chainalysis. [Online]. Available: https://www.hexagate.com/customers/
[8] Cointelegraph (2025). Chainalysis and Hexagate to Provide Holistic Risk Solution. [Online]. Available: https://cointelegraph.com/news/chainalysis-and-hexagate-to-provide-holistic-risk-solution
- The acquisition of Hexagate by Chainalysis aims to enhance Chainalysis's blockchain intelligence offerings, specifically focusing on the prevention and detection of crypto crimes in the Web3 ecosystem.
- By integrating Hexagate's technology, Chainalysis aspires to strengthen its position as a leading provider of Web3 security solutions, ultimately contributing to greater cybersecurity and financial stability within the decentralized technology sector.
- In light of the acquisition, financial news outlets report increased confidence in the reliability and security of Web3-based transactions and investments, as companies like Coinbase leverage Hexagate's on-chain security solutions to safeguard user funds and promote trust within the digital finance landscape.
