Blockchain analytics leader Chainalysis has made its first move into artificial intelligence by acquiring Alterya, a tech startup specializing in fraud detection through AI-driven solutions.
The acquisition, reportedly worth $150 million, was confirmed in a recent blog post, although financial details were not officially disclosed.
Chainalysis stated that Alterya’s technology would strengthen its ability to provide real-time fraud prevention and improve Know Your Customer (KYC) processes for exchanges, wallets, and blockchain platforms. Alterya, which works with major players like Coinbase and Binance, has been monitoring over $8 billion in monthly transactions across crypto and fiat, helping to combat increasingly sophisticated fraud tactics.
Generative AI, capable of creating realistic fake content, has made scams more scalable and harder to detect. The FBI and Deloitte warn of its growing role in fraudulent crypto schemes, with deepfake technologies projected to cost the U.S. economy up to $40 billion by 2027. Alterya’s integration into Chainalysis reflects a proactive step to counter these risks.
This acquisition follows Chainalysis’ recent purchase of Web3 security platform Hexagate, showcasing the company’s commitment to fortifying security within the crypto ecosystem. By leveraging advanced AI tools, Chainalysis aims to stay ahead of evolving fraud tactics, ensuring better protection for the financial and crypto industries.
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