CUBE3.AI has announced significant enhancements to its platform aimed at preventing fraud in the cryptocurrency sector.
Growth of Fraud in Crypto Industry
In 2023, investment scams led to more than $4.5 billion in losses, with 86% linked to cryptocurrency. A substantial portion of these scams originate in Web2—through social media interactions, fraudulent websites, or other online channels—before transitioning into crypto where recovering stolen assets becomes nearly impossible.
CUBE3.AI Innovations
CUBE3.AI has developed a unique AI-driven technology that analyzes data from various sources including social media, online platforms, and even the dark web. This enables the platform to detect and block threats in real-time by combining Web3 transaction monitoring with Web2 data analysis. Einaras Gravrock, CEO of CUBE3.AI, emphasized: 'The most damaging scams often involve complex journeys that span both traditional and crypto spaces. We’ve built a solution that looks at the full picture, from initial contact in Web2 all the way to final transactions in Web3.'
Benefits for Businesses
CUBE3.AI provides exchanges, financial institutions, and service providers with early detection and risk management capabilities. This helps them avoid facilitating fraud, protect user trust, and minimize financial losses. Chris Griffiths, CTO of CUBE3.AI, noted: 'Our AI-powered tools connect the dots between Web2 and Web3, giving us a unique edge in identifying threats before they escalate.'
CUBE3.AI’s platform sets a new standard in fraud prevention, helping organizations anticipate and eliminate threats before they occur, safeguarding both businesses and users.
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