Chainalysis has completed the acquisition of AI startup Alterya to enhance fraud protection in the cryptocurrency space.
Deal Details
Blockchain analytics platform Chainalysis has announced the acquisition of Alterya, an AI-powered fraud detection startup. The deal was completed for $150 million, according to Business Insider, although Chainalysis did not disclose the financial details.
Alterya's Technology and Partnerships
Alterya's AI-powered architecture allows it to identify scammers before they reach their victims. The startup is already collaborating with major industry players such as Binance and Coinbase, helping monitor over $8 billion in transactions, benefiting more than 100 million end users.
Context and Implications
With the acquisition of Alterya, Chainalysis can now provide real-time proactive fraud protection and enhanced detection during KYC. In 2024, the industry suffered massive losses of over $3 billion due to hackers and scammers. Experts warn that the use of generative AI could exacerbate this issue.
The acquisition of Alterya will bolster Chainalysis' efforts in fighting fraud, improving transaction security for crypto platform users.
