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The Daily Hodl 2025-01-15 19:45:59

Chainalysis Acquires AI Fraud Detection Firm That Has Teamed Up With Binance and Coinbase

Blockchain data analysis firm Chainalysis has acquired Alterya, a fraud detection solution powered by artificial intelligence (AI). The AI solution has worked with top crypto and fintech firms like Coinbase, Binance and Block and monitors more than $8 billion worth of fiat and crypto transactions a month, according to a new press release from Chainalysis. Alterya also managed to detect more than $10 billion worth of payments sent to scams last year. Ilan Zimmer, Coinbase’s director of payment and operational risk, says the product has helped his exchange. “Alterya has been a reliable partner in helping Coinbase identify wallet addresses tied to known investment scams. This collaboration has enabled us to better protect our customers and safeguard their hard-earned funds from bad actors.” Chainalysis says integrating Alterya’s AI detection solution with its existing blockchain data platform will enhance both products and uncover additional fraudulent activity. “Our acquisition of Alterya represents a significant step forward in our work to provide a holistic risk solution that includes prevention, compliance and remediation. Their mission to protect humans everywhere from fraud and scams — one of the highest grossing categories of crypto crime annually — is integral to our mission to build trust in blockchains.” Total value loss in the crypto sector due to hacks and scams last year exceeded $3.01 billion , a 15% increase from the 2023 total, according to the blockchain security firm PeckShield. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Chainalysis Acquires AI Fraud Detection Firm That Has Teamed Up With Binance and Coinbase appeared first on The Daily Hodl .