PRICE RELEASE Hexens is a blockchain-based cybersecurity startup and boutique that has closed a seed round of $4.2 million led by IOSG Ventures. This was the largest Web3 Venture Capital.
Others investors are ChapterOne VC and Delta Blockchain Fund.
Products disrupted by Hexens can have a negative impact on the ecosystem
Since Hexens was founded in 2021, it has had an impressive track record and recognition in the industry: Mudit Gupta – CISO of the most significant EVM Ecosystem – Polygon Technology, joined the company advisory board after completing just a single cooperation iteration.
Hexens is scaling its security approach: Combining bold ideas with a wide Web3 market perspective, the company’s first products will be ready in the second half of 2023.
“Blockchain is one of the fastest growing fields and, as many believe, the future of money. Fast growth brings huge cybersecurity risks, and as we see it now, the technology faces the risk of not achieving mass adoption if we do not address the rising threats of cybercrime appropriately.” Sipan Vardanyan, the CEO of Hexens, said in a statement.
“$2B lost in crypto hacks only in 2022 shows the importance of thorough cybersecurity practices and the high demand for first-class cybersecurity services. It is a pleasure to work with Hexens, whose stellar team makes Web 3.0 safer. The team’s expertise in ZK technology positions them well to ensure the next wave of industry innovations. Moreover, products being built by Hexens have the potential to become a standard toolkit for each developer and security researcher in the blockchain space,” said Queenie, the partner at IOSG Ventures.
“Our unique methodologies and techniques that we have sharpened over a decade of business in cybersecurity enable us to see what the premature blockchain market needs. We will soon release our first products to help builders, security engineers, projects, companies, and whole blockchains and ecosystems have peace of mind and stay safe.” Sipan added.
“Today, many businesses face a single point of failure while depending on technologies that store assets on-chain. Our main goal is to set new standards and raise the expectations of what cybersecurity solutions could do.” Sipan also added.
Hexens was started by Capture the Flag multiple winners. Sipan Vardanyan, Vahe Karapetyan, in the professional environment more known by their nicknames — Noyer and kemmio. They decided to concentrate on blockchain technology after more than 10 years providing traditional cybersecurity services to the Web2 sector. This will allow Web3 to be adopted by mass audiences.
Security audits by Hexens
Hexens are available Multiple top-notch teams of auditorsSpecialized in various fields of information security. Exhibited extreme performance in some of the most difficult and technically challenging tasks including, but not limited to, Infrastructure Audits and Zero Knowledge Proofs/Nova Cryptography.
“Most of our auditors and security engineers have a scientific background in cryptography, computer science, or math, together with previous, let’s call it, Web2 security experience.
Considering our recruitment approach and Hexens’ philosophy, we often refuse to audit simple ERC20 tokens or other non-complex projects: the more complex the project, the more attractive and exciting it is for us to audit.” – Vahe, the CTO of Hexens.
Hexens investigations into cybercrime
Besides security audits, Hexens’ also investigates and responds to security incidents. The investigation team includes multiple OSINT Competition winners. They have combined experience in on-chain as well as off-chain analysis techniques, to provide the best cybercrime investigations. The investigations team has returned more than $1.5 million in assets and identified hackers within the past nine months. $13mTo their owners.
“No matter how sophisticated the software is used for on-chain investigations, it’s only half of the story: the other half comes to manual analysis of off-chain data. My team consists of OSINT specialists and ex-police detectives, and their experience permits us to achieve astonishing results.” – Grant, Head of Investigations of Hexens, said.
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