Israeli Hexagate Joins Chainalysis in $60 Million Acquisition Deal

Hexagate founders (L-R): CTO Niv Yehezkel and CEO Yaniv Nissenboim

Blockchain analytics leader Chainalysis has acquired Israeli blockchain security firm Hexagate in a deal reportedly worth $60 million. This acquisition, Chainalysis’ first in Israel, strengthens its focus on securing Web 3.0 and blockchain networks.

Hexagate, founded in 2022 by CEO Yaniv Nissenboim and CTO Niv Yehezkel, has a team of 20 employees who will remain in their roles post-acquisition. The company raised $8.6 million in Seed funding from Entrée Capital, Samsung Next, INT3, and others.

Nissenboim and Yehezkel, both veterans of Israel’s elite cybersecurity units, founded Hexagate to address vulnerabilities in blockchain networks. Their platform leverages machine learning to detect thefts early, helping reduce successful hacks across blockchain systems. Notably, Hexagate uncovered a $5 billion vulnerability in the Polygon blockchain during its research, reinforcing its expertise in the field.

Chainalysis, which employs 900 staff globally and supports financial institutions and law enforcement agencies, plans to integrate Hexagate’s capabilities while allowing it to operate independently.

Source: CTech