Chainalysis acquires AI fraud detection solution Alterya

15th January 2025
Chainalysis has acquired Alterya, an AI-powered fraud detection solution designed to assist financial institutions, fintechs, and crypto service providers in combating authorized push-payment (APP) fraud. The terms of the acquisition were not disclosed. This move will bolster Chainalysis’ fraud prevention capabilities, enhancing its offerings for detecting and mitigating fraud within the financial and cryptocurrency sectors.
Chainalysis has acquired Alterya, an AI-driven fraud detection solution that helps financial institutions, fintechs, and crypto service providers prevent authorized push-payment (APP) fraud. The terms of the acquisition were not disclosed.

Through this acquisition, Chainalysis is further advancing its strategy to combat illicit transactions, following its previous purchase of Hexagate, a Web3 security provider, in December.

Alterya’s technology and team will be integrated into Chainalysis’ blockchain data platform, enhancing its fraud protection capabilities. The combined solution will offer real-time, proactive fraud prevention for payments and strengthen fraud detection during Know Your Customer (KYC) procedures for exchanges, blockchains, and wallet providers.

Founded in 2022 by CEO Elad Fouks and CTO Shahaf Gonen, Alterya provides tools for recipient and account screening to identify malicious digital identities and bad actors across various networks and payment channels. The company claims its solution detected $10 billion in scam-related transactions in 2024, with prominent clients such as Binance, Coinbase, and Block.

Chainalysis plans to expand upon Alterya’s fraud identification capabilities on fiat payment rails, noting that illicit activities in fiat accounts often act as early indicators before funds are transferred into cryptocurrencies.