Crypto change OKX has expanded its relationship with blockchain analytics firm Chainalysis by integrating Alterya, a fraud-detection platform designed to determine scam-related fee locations earlier than funds are despatched.
The partnership displays a broader shift amongst exchanges from post-transaction blockchain monitoring towards earlier intervention, notably in circumstances the place customers are persuaded to switch funds to scam-controlled accounts, OKX advised Cointelegraph.
Alterya analyzes rip-off infrastructure throughout web sites, social media and messaging channels, and hyperlinks these alerts to monetary identifiers corresponding to crypto wallets and financial institution accounts. Built-in into withdrawal flows, the system permits exchanges to flag or block transfers to addresses believed to be related to energetic scams.
Conventional anti-money laundering (AML) instruments usually concentrate on the sender by Know Your Buyer (KYC) checks and transaction monitoring. Alterya as an alternative concentrates on the recipient aspect, figuring out wallets and accounts tied to rip-off networks or cash mule operations.
Chainalysis acquired Alterya early final yr in a deal reportedly valued at $150 million, marking its enlargement past blockchain tracing into real-time fraud prevention for funds.
Previous to the acquisition, Alterya labored with exchanges together with Coinbase and Binance. The corporate says its programs monitor greater than $23 billion in month-to-month transaction quantity and has prevented $300 million in losses over the previous 12 months.
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The blockchain trade’s rising concentrate on prevention instruments
Blockchain danger monitoring and fraud intelligence platforms have expanded in recent times as exchanges and fee suppliers reply to rising scam-related losses.
Blockchain analytics corporations corresponding to TRM Labs and Elliptic, lengthy recognized for transaction tracing and sanctions screening, now provide pockets danger scoring and real-time transaction monitoring that may be built-in into withdrawal and fee flows.
As Cointelegraph just lately reported, TRM Labs partnered with banking infrastructure supplier Finray Applied sciences to ship real-time danger alerts for suspicious exercise throughout a number of blockchains, reflecting rising crossover between crypto compliance and conventional monetary controls.
Regardless of the enlargement of monitoring and prevention instruments, losses stay substantial. Analysis from Chainalysis estimates that roughly $17 billion was misplaced to crypto-related scams in 2025.
Impersonation scams, typically involving faux funding platforms or people posing as trusted entities, recorded the most important year-on-year improve, rising by about 1,400%, in response to the information.
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