Crystal Intelligence Acquires Scam Alert to Combat Crypto Fraud
Crypto crime is soaring, and Crystal Intelligence is taking action. The company is buying Whale Alert’s Scam Alert platform. This move aims to turn individual scam reports into valuable intelligence for law enforcement.
Crystal Intelligence specializes in blockchain analytics and risk monitoring. By acquiring scam Alert, they hope to make it easier for victims to report scams. This will help authorities identify larger fraud networks.
The firmS CEO, Navin Gupta, explained that individual victims often don’t get justice. This allows scammers to continue harming others.Crystal Intelligence plans to use its tools to link scam reports and uncover bigger operations.
Scam Alert will remain a standalone, non-commercial project. Crystal Intelligence will start by gathering multilingual data and offering support tools for victims. They will also partner with regulators and law enforcement globally.
The FBI’s Internet Crime Complaint Center reports that crypto crime losses reached $9.3 billion in 2024. This is a 66% increase from the previous year. Crystal Intelligence’s acquisition aims to tackle this growing problem.
