Blockchain Safety Firm Hexens Raises $4․2 Million in Seed Funding Led by IOSG Ventures – Press launch Bitcoin Information

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PRESS RELEASE. Hexens, a cybersecurity boutique and blockchain startup, introduced the closure of a $4.2 million seed spherical led by IOSG Ventures, the main Web3 Enterprise Capital.

Different buyers embody Delta Blockchain Fund, ChapterOne VC, Hash Capital, ImToken Ventures, Tenzor Capital, and angels from Polygon and different blockchain initiatives.

Hexens disrupting merchandise affect the ecosystem

Since Hexens was based in 2021, it has had a formidable observe report and recognition within the business: Mudit Gupta – CISO of probably the most vital EVM Ecosystem – Polygon Know-how, joined the corporate advisory board after finishing only a single cooperation iteration.

The Hexens method to safety is on its approach to scale: combining daring concepts with an in depth Web3 market imaginative and prescient, the primary merchandise from the corporate will probably be out there in late 2023.

“Blockchain is likely one of the quickest rising fields and, as many consider, the way forward for cash. Quick progress brings enormous cybersecurity dangers, and as we see it now, the expertise faces the chance of not reaching mass adoption if we don’t tackle the rising threats of cybercrime appropriately.” Sipan Vardanyan, the CEO of Hexens, mentioned in an announcement.

“$2B misplaced in crypto hacks solely in 2022 exhibits the significance of thorough cybersecurity practices and the excessive demand for first-class cybersecurity companies. We’re excited to accomplice with the stellar Hexens crew on the mission to make Internet 3.0 a safer place. The crew’s experience in ZK expertise positions them nicely to make sure the following wave of business improvements. Furthermore, merchandise being constructed by Hexens have the potential to change into a regular toolkit for every developer and safety researcher within the blockchain area,” mentioned Queenie, the accomplice at IOSG Ventures.

“Our distinctive methodologies and methods that we’ve got sharpened over a decade of enterprise in cybersecurity allow us to see what the untimely blockchain market wants. We are going to quickly launch our first merchandise to assist builders, safety engineers, initiatives, firms, and complete blockchains and ecosystems have peace of thoughts and keep secure.” Sipan added.

“At present, many companies face a single level of failure whereas relying on applied sciences that retailer belongings on-chain. Our most important purpose is to set new requirements and lift the expectations of what cybersecurity options may do.” Sipan additionally added.

About Hexens

Hexens was based by two multiple-time Seize the Flag competitors winners: Sipan Vardanyan and Vahe Karapetyan, within the skilled atmosphere extra recognized by their nicknames — Noyer and kemmio. After greater than ten years of offering classical cybersecurity companies within the Web2 business, they determined to concentrate on blockchain applied sciences to develop and implement new safety requirements within the area, bringing Web3 mass adoption nearer than it’s.

Hexens safety audits

Hexens has a number of top-notch auditing groups specialised in numerous fields of knowledge safety, displaying excessive efficiency in probably the most difficult and technically advanced duties, together with however not restricted to: Infrastructure Audits, Zero Information Proofs / Novel Cryptography, DeFi, and NFT.

“Most of our auditors and safety engineers have a scientific background in cryptography, laptop science, or math, along with earlier, let’s name it, Web2 safety expertise.

Contemplating our recruitment method and Hexens’ philosophy, we regularly refuse to audit easy ERC20 tokens or different non-complex initiatives: the extra advanced the challenge, the extra engaging and thrilling it’s for us to audit.” – Vahe, the CTO of Hexens.

Hexens cybercrime investigations

Moreover safety audits, Hexens’ additionally investigates and responds to safety incidents. A number of-time OSINT competitors winners are the constituents of the investigation division, with mixed experience in each on-chain and off-chain evaluation methods to ship probably the most refined cybercrime investigations. Inside the final 9 months, the investigations division recognized and de-anonymized hackers and returned belongings value greater than $13m to their rightful homeowners.

“Regardless of how refined the software program is used for on-chain investigations, it’s solely half of the story: the opposite half involves guide evaluation of off-chain information. My crew consists of OSINT specialists and ex-police detectives, and their expertise permits us to realize astonishing outcomes.” – Grant, Head of Investigations of Hexens, mentioned.

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