Chainalysis Acquires Israeli AI Fraud Detection Firm Alterya to Combat Crypto Scams

Chainalysis, a company that offers cryptocurrency investigation and compliance solutions, has acquired Israeli startup Alterya, the AI-powered fraud detection solution that identifies scammers before they meet their victims. While the terms of the deal were not disclosed, Calcalist estimated that the purchase price is around $150 million.

Founded in 2022 by Elad Fouks (CEO) and Shahaf Gonen (CTO), Alterya specializes in preventing Authorized Push Payment (APP) fraud, with a particular emphasis on cryptocurrency and real-time payment networks. This type of fraud involves tricking people into authorizing payments to scammers.

Alterya’s technology has been instrumental in monitoring over $8 billion in transactions per month across both cryptocurrency and fiat channels, protecting 100 million end users from fraud. Their client roster includes major cryptocurrency exchanges and fintech companies such as Binance, Coinbase, and Block.

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The company’s AI-powered solution integrates cybersecurity and artificial intelligence capabilities for large-scale, cross-network detection, enabling real-time scam prevention even before attackers reach their targets. In 2024, Alterya identified over $10 billion worth of crypto transactions sent to scammers and helped its clients protect assets totaling more than $100 million.

Following the acquisition, Alterya’s team, including its 28 employees, continues to operate as an independent product line and serves as a local R&D center for Chainalysis in Tel Aviv.

Alterya’s mission to protect individuals from fraud and scams aligns with Chainalysis’ goal of building trust in blockchains, making this acquisition a significant step toward providing comprehensive risk solutions that encompass prevention, compliance, and remediation.

Essentially, Alterya developed technology to help identify and prevent fraudulent transactions in the increasingly complex world of digital finance, particularly within the crypto space. Their acquisition by Chainalysis indicates the value and potential of their work in combating financial crime.

Chainalysis offers cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses as they work together to fight illicit cryptocurrency activity. Backed by Benchmark and other leading names in venture capital, Chainalysis builds trust in blockchains. For more information, visit: www.chainalysis.com

“Our acquisition of Alterya represents a significant step forward in our work to provide a holistic risk solution that includes prevention, compliance and remediation,” Said Jonathan Levin, Co-founder and CEO at Chainalysis. “Their mission to protect humans everywhere from fraud and scams — one of the highest grossing categories of crypto crime annually — is integral to our mission to build trust in blockchains. We’re thrilled to welcome Alterya to the team and expand our office in Tel Aviv to work on safeguarding billions of people from fraud and delivering safer and faster payments for all.”

“We’ve been operating here longer than people realize,” Jonathan Levin, co-founder and CEO of Chainalysis, told Calcalist. “We’ve had a team here for almost three years serving our clients, and for some time, I wanted to build a development center in Israel to tap into the talented workforce and expand our product line. I’m very excited about our two acquisitions here, the previous Hexagate deal and today’s acquisition of Alterya. We’ll be building another development center, as there are talented people here who can develop new technologies and help us improve.”