Chainalysis Acquires AI Fraud Detection Solution ”Alteriya”

Chainalysis, a blockchain data analytics company, announced that it has announced that it has acquired Arteria, an AI-based fraud detection solution.
Alterya has announced the acquisition of Alterya, a cryptocurrency exchange that provides solutions to identify criminals before they come into contact with victims.
Alterya already works with major cryptocurrency exchanges, fintech companies, and financial institutions, including CK. Alterya monitors more than $8 billion in crypto and fiat transactions every month.
It has protected over 100 million cryptocurrency users from the threat of authentication fraud by monitoring their transactions. Last year, it detected and blocked $10 billion in fraudulent funds before they could be used, building customer trust.
This acquisition follows the company's acquisition of Web3 security solutions company Hexagate last month, and will further strengthen its illegal trade prevention and investigation capabilities.
Recently, AI-generated fake content and identities have been making it harder for financial institutions and cryptocurrency companies to detect fraud.
Meanwhile, Chainalysis will incorporate Alterya's data collection technology into its platform to build a powerful fraud detection network across blockchain and digital payments.
The acquisition strengthens Chainalysis' real-time fraud prevention and KYC processes for exchanges, blockchain and wallet providers.
Alterya will provide a comprehensive fraud detection solution. Alterya has already helped major cryptocurrency exchanges reduce fraud by 60%, reducing related disputes and improving operational efficiency. Government agencies are looking to use Alterya to
Leveraging ya's insights provides the intelligence to investigate emerging fraud trends and allows financial institutions to develop pre-money laundering fraud prevention strategies based on fraud data from fiat payment systems.
"We can detect early signs of fraud," said Jonathan Levin, CEO of Chainalysis.
"The acquisition of Alterya brings a comprehensive set of risk solutions, including fraud prevention, compliance and response," said Levin.
"This marks an important milestone for Chainalysis, the company that provides cryptocurrency security solutions that protect crypto users from fraud and scams, a major pillar of crypto crime," said Chainalysis CEO Tom Lane.
"Our partnership with Alterya aligns with our mission. We are pleased to work with Alterya to prevent fraud and provide a safe and fast payment environment."