Chainalysis acquires AI fraud detection startup for $150M: Report
Chainalysis has acquired fraud detection startup Alterya for approximately $150 million, marking its entry into artificial intelligence. The acquisition aims to enhance real-time fraud protection for payments and improve fraud detection during the Know Your Customer process for exchanges and wallet providers. Alterya has contracts with major companies like Coinbase and Binance and has monitored over $8 billion in monthly transactions to combat "authorized fraud." This acquisition follows Chainalysis' purchase of Web3 security platform Hexagate in December. The rise of generative AI has made fraud more scalable, with the FBI noting its use in cryptocurrency scams. Deloitte estimates that generative AI and deepfakes could cost the US economy up to $40 billion by 2027, as the dark web offers scamming software for sale.
