Chainalysis Acquires AI-Powered Fraud Detection Startup Alterya for $150 Million

Chainalysis, a leading blockchain analytics platform, has acquired Alterya, an artificial intelligence-powered fraud detection startup, for $150 million. The acquisition aims to bolster Chainalysis’ capabilities in combating cryptocurrency scams and fraudulent activities in the crypto industry.

Alterya’s AI-Powered Architecture

Alterya’s advanced AI-powered architecture enables it to identify scammers before they reach their victims. The startup has established partnerships with major industry players, including Binance and Coinbase, and currently monitors over $8 billion in transactions, benefiting more than 100 million end users.

Background on Alterya

Alterya, based in Tel Aviv, had raised $9.8 million in a seed funding round that attracted prominent venture capital firms, including Y Combinator, Battery Ventures, NFX, and Nyca.

Enhancing Crypto Compliance and Tracing Services

The acquisition of Alterya adds to Chainalysis’ recent deal for web3 security platform Hexagate and its partnership with financial advisory platform AlixPartners. These strategic moves aim to strengthen Chainalysis’ crypto compliance and tracing services.

With this acquisition, Chainalysis can now provide real-time proactive fraud protection for payments and enhanced fraud detection during KYC for exchanges, blockchains, and wallet providers.

Combating Fraud in the Crypto Industry

Chainalysis sees Alterya as a key step in its mission to combat fraud and scams in the crypto industry, which suffered massive losses of over $3 billion in 2024 due to hackers and scammers. Experts warn that the increasing use of generative AI by attackers could result in even greater losses.

AI-Powered Crypto Scams on the Rise

The U.S. Federal Bureau of Investigation has cautioned that scammers are leveraging AI to make crypto-related scams more difficult to detect. AI enables criminals to generate realistic content on fraudulent sites, making it easier to deceive crypto users.

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