Blockchain analytics firm Chainalysis has acquired the AI fraud detection startup Alterya for approximately $150 million. This marks Chainalysis's first venture into artificial intelligence, aiming to bolster its capabilities in fraud detection and prevention in real-time payment systems, particularly in the cryptocurrency sector. The acquisition is a response to a growing trend of scammers leveraging generative AI technologies to target cryptocurrency investments and create fraudulent websites. In 2024 alone, scams resulted in $3 billion in losses within the crypto industry. The FBI has noted that criminals exploit generative AI to enhance their schemes, leading to significant economic impacts, with predictions that such technologies could cost the US economy up to $40 billion by 2027. The deal reflects a broader trend in which anti-fraud tools are becoming less effective due to the rise of sophisticated scamming software being sold on the dark web.

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