Blockchain security firm Hexens raises $4 to $2 million in seed funding led by IOSG Ventures – Bitcoin News Press Release

Blockchain security firm Hexens raises $4 to $2 million in seed funding led by IOSG Ventures – Bitcoin News Press Release

Press release. Hexens, a cybersecurity startup and blockchain startup, has announced the closing of an initial $4.2 million round led by IOSG Ventures, a leading Web3 Venture Capital.

Other investors include Delta Blockchain Fund, ChapterOne VC, Hash Capital, ImToken Ventures, Tenzor Capital, Angels from Polygon and other blockchain projects.

Hexens disabled products affect the ecosystem

Since its founding in 2021, Hexens has had an impressive track record and industry recognition: Mudit Gupta – CISO of the most significant EVM ecosystem – Polygon Technology, joined the company’s advisory board after completing only one iteration of collaboration.

Hexens’ approach to security is on the way to expansion: Combining bold ideas with a comprehensive Web3 market vision, the company’s first products will be available in late 2023.

“Blockchain is one of the fastest growing areas and, as many believe, the future of money. Rapid growth brings enormous cybersecurity risks, and as we can see now, the technology runs the risk of not achieving mass adoption if we do not adequately address the growing threats of cybercrime.” Sipan Vardanian, CEO of Hexens, said in a statement.

The loss of $2 billion in crypto hacks alone in 2022 shows the importance of comprehensive cybersecurity practices and the growing demand for top-tier cybersecurity services. We’re excited to partner with the excellent team of Hexens on the mission to make Web 3.0 a safer place. The team’s expertise in ZK technology positions them well to ensure the next wave of industry innovation. Moreover, the products made by Hexens have the potential to become a standard toolkit for every developer and security researcher in the blockchain space,” said Queenie, partner at IOSG Ventures.

“Our unique methodologies and technologies that we’ve honed over a decade of work in cybersecurity enable us to know what the early blockchain market needs. We will soon release our first products to help builders, security engineers, projects, businesses, and all blockchains and ecosystems have peace of mind and stay safe.” Sipan has been added.

“Today, many companies are facing a single point of failure as they rely on technologies that store assets on the chain. Our main goal is to set new standards and raise expectations about what cybersecurity solutions can deliver.” Siban also added.

About Hexens

Hexens was founded by two multi-time winners of the Capture the Flag competition: Sipan Vardanian and Fahi Karapetyan, in the professional environment better known by its nicknames – Noyer and kemmio. After more than ten years of providing classic cybersecurity services in the Web2 industry, they decided to focus on blockchain technologies to develop and implement new security standards in the field, bringing mass adoption of Web3 even closer.

Hexens Security Audits

Hexens has Several first-class audit teams Specialized in various areas of information security, demonstrating superior performance in the most technically challenging and complex tasks including but not limited to: Infrastructure Audits, Zero Knowledge Proof/New Cryptography, DeFi, and NFT.

“Most of our auditors and security engineers have a background in cryptography, computer science or mathematics, combined with previous Web2 security experience, let’s call it that.

Given our hiring approach and Hexens philosophy, we often decline audits of simple ERC20 tokens or other uncomplicated projects: the more complex the project, the more engaging and exciting the audit is for us.” — Fahey, Chief Technology Officer at Hexens.

Hexens Cybercrime Investigation

Besides security audits, Hexens also investigates and responds to security incidents. The winners of the OSINT multi-time competition are the components of the investigation department, with combined expertise in both on-chain and off-chain analysis techniques to deliver the most advanced cybercrime investigations. Within the past nine months, the investigation department has identified and removed the hackers and returned assets worth more than 13 million dollars to their rightful owners.

“No matter how complex the software used in on-chain investigations is, it is only half the story: the other half is about manual analysis of off-chain data. My team is made up of OSINT specialists and former police investigators, and their experience allows us to achieve amazing results.” – said Grant, Hexens’ head of investigations.

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