Chainalysis Expands Capabilities with $150 Million Acquisition of AI Startup Alterya

Chainalysis has announced a significant expansion by acquiring AI startup Alterya for $150 million. This acquisition is a substantial step in the right direction for Chainalysis to bolster its fraud detection and blockchain security capabilities.

Alterya, which was founded in 2022, specializes in using advanced AI-driven tools to identify harmful digital identities and prevent fraudulent activities. Its innovative technology has already been successfully used by prominent companies such as Coinbase, allowing it to detect wallet addresses linked to well-known investment frauds, thus shielding its users from significant financial loss.

The acquisition of Alterya by Chainalysis will enable the company to incorporate proactive fraud detection techniques into its toolkit. This move is expected to significantly enhance the company’s ability to handle new risks and threats, including those involving advanced technologies like generative artificial intelligence.

Chainalysis aims to further strengthen its position as a complete provider of financial crime prevention, compliance, and remedial solutions by integrating Alterya’s technology.

Source: www.crypto-news-flash.com