Chainanalysis Buys AI Fraud Detection Firm Alterya for $150 million

Blockchain analytics company Chainalysis has recently acquired Alterya, a similar firm that primarily deals in AI-based fraud detection, for a whopping $150 million. Started in 2022, Alterya aims to investigate and prevent fraud schemes that affect financial institutions together with the providers of cryptocurrency services. The platform can accurately track transaction traffic in excess of $8 billion per month in both cryptocurrencies and in the more traditional financial world with prime participants like Binance, Coinbase and Block. This acquisition bolsters Chainalysis’s capacity to combat fraud and scams and illicit financial gains.