blockchain analysis company chain analysis Obtained Arteriais an AI-based fraud detection platform focused on identifying fraud before it affects victims.
Launched in stealth mode, Altaya works with crypto exchanges and financial institutions such as Binance, Coinbase, and Block to monitor over USD 8 billion in monthly transactions across crypto and fiat systems.
The platform aims to protect users from fraud, which remains a persistent problem in the financial industry.
In 2024, Altaya identified US$10 billion in fraud-related transactions and worked with clients to reduce losses and effectively combat fraud.
The acquisition follows the company’s recent acquisition of Hexagate, a Web 3.0 security platform, as part of a broader strategy to combat illicit financial activity.
Fraud detection faces new challenges with advanced technologies such as generative AI that enable more complex fraud.
According to Alteria research, most fraud (85%) involves verified accounts, making traditional detection methods less effective.
By integrating Alteria’s tools with the Chainaosis blockchain data platform, the partnership aims to improve fraud detection across digital payment systems.
Alteria’s technology has reportedly reduced fraud by 60% at some crypto exchanges while improving operational efficiency.
The acquisition will also enable Chainalysis to help government agencies and financial institutions detect trends in fraud and identify early signs of suspicious activity on fiat payment systems.
Chainalysis plans to expand its Tel Aviv team to further develop fraud prevention tools and build on Altaya’s roadmap to improve security across global payment systems.
Featured image credit: Edited from freepic
