Global crypto exchange OKX has integrated Alterya, a fraud-detection platform owned by Chainalysis, to strengthen protections against scam-related transfers. The system is designed to identify suspicious payment destinations before users complete withdrawals, reflecting a broader industry shift toward preventative compliance tools.
Unlike traditional anti money laundering systems that focus on the sender through Know Your Customer (KYC) checks, Alterya concentrates on the recipient. It analyzes scam infrastructure across websites, messaging platforms, and social media, linking those signals to crypto wallet addresses and financial accounts associated with fraud networks or money mule operations.
Rising Crypto Scam Losses Drive Preventative Measures
Chainalysis acquired Alterya last year in a deal reportedly valued at $150 million, expanding its capabilities beyond blockchain tracing into real-time fraud prevention. The platform monitors more than $23 billion in monthly transaction volume and claims to have prevented approximately $300 million in losses over the past year.
The integration comes as crypto related scam losses continue to rise. Chainalysis estimates that about $17 billion was lost to scams in 2025, with impersonation schemes including fake investment platforms increasing roughly 1,400% year over year.
As exchanges enhance withdrawal screening and real-time monitoring, the focus is shifting from post-incident investigation to stopping fraudulent transfers before funds leave the platform.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.