Chainalysis Expands Anti-Fraud Arsenal with Alterya
Chainalysis has acquired Alterya, an AI-focused company that excels in identifying fraudulent schemes before they unfold. A strategic move for enhanced cybersecurity.
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With partnerships spanning industry giants like Binance, Coinbase, and Block, Alterya handles over $8 billion in transactions every month. Its platform analyzes crypto and fiat operations, safeguarding more than 100 million users against fraud.
Leading exchanges have already reported a 60% drop in fraudulent activities thanks to Alterya’s solutions, as well as fewer disputes over illicit transactions.
Alterya exposed $10 billion in fraud-related transfers in 2024, providing critical support to clients in reducing their exposure to financial losses.
The firm focuses on combating a modern threat: scammers exploiting generative AI to create fake personas and highly convincing fraudulent content.
Source: Chainalysis
Alterya’s analysis shows that 85% of fraudulent schemes leverage fully verified accounts, easily navigating through traditional identity-based verification systems.
Chainalysis and Alterya are collaborating to combine real-time blockchain insights with state-of-the-art fraud detection technology, targeting a broad range of users, from exchanges to wallet providers.
This latest move by Chainalysis underscores its commitment to preventing fraudulent activity. In December 2024, the company took a significant step by acquiring Hexagate, renowned for its cutting-edge blockchain security technology.
Building on this momentum, Chainalysis intends to fortify the global financial landscape with advanced fraud prevention systems.
Since its founding in 2014, Chainalysis has become a cornerstone in blockchain data analytics. Headquartered in New York, the company develops software designed to ensure regulatory compliance and facilitate investigations. Its customer base spans government agencies, crypto platforms, financial institutions, insurance providers, and cybersecurity specialists.
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