Crystal Intelligence acquires Scam Alert, aims to protect crypto users from fraud

• Crystal buys Scam Alert to take action against crypto fraud.
• uses KI to pursue fraud and help sacrifice.
• supported by Tether, Polygon and Ethereum Foundation.

Since crypto fraud alarming new heights reaches, the blockchain analytics company Crystal Intelligence has taken a brave step to contain this threat.

On the token2049 Dubai, the company announced the takeover of Scam Alert, a platform for the message of crypto fraud, which was launched by Whale Alert.

This step is to revolutionize the way crypto fraud is recognized and reported by using Crystal's advanced analysis to combine scattered reports and to provide important information for law enforcement authorities worldwide.

crypto crime in the blockchain ecosystem

In 2024 alone, the global losses due to crypto fraud rose by 66 % compared to the previous year to more than $ 9.3 billion, according to the Internet Crime Center of the FBI.

victims are often isolated and undistorted, with little hope of receiving their assets or experiencing justice.

With the takeover of scam alert, Crystal wants to change this by creating a structured, transparent and collaborative ecosystem for fraud recognition and sacrificial support.

With its proprietary clustering and blockchain analysis, Crystal Intelligence will aggregate fraud reports that are submitted via SCAM Alert to identify larger fraud networks and to uncover coordinated criminal activities.

This will enable providers of virtual assets (vasps) and law enforcement to act in good time and prevent further victims.

"We receive countless calls to help from fraud victims, but there is rarely a system to help them," said Navin Gupa, CEO from Crystal Intelligence.

"Scam Alert stands for our commitment to provide real help by priorizing real reports and working with law enforcement authorities to trace and recover stolen assets."

Whale Alert, which scam alert created to promote transparency in the field of crypto crime, will remain on board as an advisory partner.

The cooperation is expected to increase the range of the platform by using Whale Alert's influential presence in social media and extensive experience in the tracking track.

Marina Khaustova, COO of Crystal, emphasized the potential influence of the platform: "Scam alert can be a lifeline for those affected by crypto fraud. Victims deserve a recognized path to support and recover of funds. We convert into implementable information."

phases worldwide introduction

Crystal Intelligence plans a phases of the worldwide introduction of scam alert, starting with multilingual data collection and regional support centers for victims.

The platform will also pursue a hyperlocal intelligence approach that includes local blockchain communities, foundations and regulatory authorities to ensure basic participation.

Remarkably received the initiative of important actors in the industry, including Tether, Polygon and the Ethereum Foundation, which underlines growing consensus on the urgent need for crypto safety infrastructures.

structured as a non-commercial, independent project, Scam Alert is a call for action for the broader blockchain industry to combine against crypto fraud through joint information, transparency and cooperation.