CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
sp
Home » Projects » Blockchain Security Company Hexens Helps Bring Crypto to Mass Adoption Through Security

Blockchain Security Company Hexens Helps Bring Crypto to Mass Adoption Through Security

Author: Danish Yasin

Last Updated Oct 19, 2022 @ 10:43
Getting your audio player ready...

The cryptocurrency industry is having a hard time coping with security, and the past month has been no exception.

A recent report by Chainalysis revealed that October has turned out to be the biggest month in the biggest year ever for hacking activity. Up until the 13th, over $718 million worth of crypto had been compromised in 11 different hacks. Just recently, another cryptocurrency wallet provider was compromised, putting another million to that number.

That said, Hexens – a blockchain security company, is ramping up its efforts in the industry and has raised $4.2 million in a seed round led by IOSG Ventures – one of the leading Web3 venture capital firms.

What is Hexens?

Hexens was founded by two multiple-time Capture the Flag competition winners: Sipan Vardanyan and Vahe Karapetyan. In the professional domain, they are better known by their nicknames – Noyer and kemmio. After more than 10 years of providing classical cybersecurity services in the Web2 industry, they decided to focus on blockchain technologies to develop and implement new standards of security in the field, with the goal of bringing Web3 mass adoption closer than it is.

Hexens has multiple top-notch auditing teams specialized in different fields of information security, showing extreme performance in the most challenging and technically complex tasks, including but not limited to: Blockchain/DLT Audits, Zero Knowledge Proofs / Novel Cryptography, DeFi, and NFT.

Speaking on the matter was the company’s CTO, Karapetyan,  who said:

Besides security audits, Hexens’ also investigates and responds to security incidents. Multiple-time OSINT competition winners are the constituents of the investigation department, with combined expertise in both on-chain and off-chain analysis techniques to deliver the most sophisticated cybercrime investigations. Within the last 9 months, the investigations department identified and deanonymized hackers and returned assets worth millions of USD to their rightful owners.

img1_hexens

Going Strong With $4.2 Million in Funding

The cybersecurity boutique announced the closure of a $4.2 million seed round led by IOSG Ventures, the leading Web3 Venture Capital.

Other investors include Delta Blockchain Fund, Chapter One, Hash Capital, ImToken Ventures, Tenzor Capital, and angels from Polygon and other blockchain projects.

It’s also worth noting that since Hexens was founded in 2021, it has had an impressive track record and recognition in the industry: Mudit Gupta – CISO of one of the biggest EVM Ecosystem – Polygon Technology, joined the company advisory board after completing just a single cooperation iteration.

The company’s approach to security is on its way to scale: combining brave ideas together with an extensive Web3 market vision. The first products from the company will be available in late 2023.

Commenting on the fundraise was Queenie Wu, partner at IOSG Ventures, who said:

“$2 billion lost in crypto hacks only in 2022 shows the importance of thorough cybersecurity practices and the high demand for first-class cybersecurity services. We are excited to partner with the stellar Hexens team 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 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.”

Adding to that was Sipan Vardanyan, the CEO of hexens, who said:

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 in an appropriate manner. […] 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 really needs. In the near future, we plan to release our first products to help builders, security engineers, projects, companies, and whole blockchains and ecosystems have peace of mind and stay safe.

With the funding, Hexens will expand horizontally by increasing its top-notch cyber security service coverage and vertically by developing products that aim to impact the field on ecosystem grade.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Danish Yasin
More posts by this author

Danish is a seasonal writer with more than six years of technical writing experience. He specializes in in-depth review and research of projects and protocols An aspiring Computer Scientist and technology enthusiast. Contact Danish: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

12 Best Meme Coins to Watch in July 2025

12 Best Meme Coins to Watch in July 2025

7 Best Meme Coin Presales to Watch in July 2025

7 Best Meme Coin Presales to Watch in July 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

10 Best Crypto Presales to Consider in July 2025

10 Best Crypto Presales to Consider in July 2025

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!