Crypto fraud prevention is taking a major step forward as OKX adopts Chainalysis Alterya to proactively combat scams. Building upon their existing relationship focused on compliance and law enforcement collaboration, OKX’s adoption of Chainalysis Alterya aims to protect customers by preventing transfers to known scam destinations before funds leave the platform.
Fraud and scams remain a significant concern in the crypto space and beyond. Chainalysis estimates that scammers stole $17 billion in crypto in 2025, with AI-powered scams like voice cloning and deepfake impersonation proving 4.5 times more profitable than traditional methods.
OKX and Chainalysis have a strong history of collaborating with global authorities on compliance and fraud investigations. This collaboration has contributed to significant law enforcement successes, including the largest-ever fraud-related seizure of crypto funds by the U.S. Department of Justice and the freezing of nearly $50 million in USDT linked to scam operations.
Alterya: Proactive Crypto Fraud Prevention
OKX is now strengthening its commitment to mitigating crypto crimes in partnership with Chainalysis. The adoption of Chainalysis Alterya, an AI-powered crypto fraud prevention solution, will enable the detection of scam infrastructure across the web. Alterya connects these signals to financial identifiers (crypto wallets, digital wallets, bank accounts) and allows for real-time prevention of transfers to active scam accounts. This proactive approach helps reduce financial losses related to authorized push payment (APP) fraud, lessen the number of customer disputes, and improve customer retention. Alterya monitors over $23 billion in monthly transactions, protecting hundreds of millions of users across crypto and fiat payment rails, with a focus on recipient-side risk and money-mule detection, which is critical for stopping APP fraud. Over the past twelve months, Alterya has prevented more than $300 million in losses, supporting customers in proactively reducing fraud. Some leading exchanges have reported up to 60% fraud reduction after deploying Chainalysis prevention tools including Alterya.
Alterya also integrates with Chainalysis KYT (Know Your Transaction) compliance workflows, enabling pre-withdrawal screening and evidence-backed alerts (including domain screenshots and reconstructed chats) for efficient manual review. It also provides webhooks and dashboards to operationalize prevention in high-volume environments.
“The best way to protect customers is to prevent scam payments in the first place – it’s both the right thing to do and a competitive advantage.”
OKX’s Commitment to Trust and Transparency
“OKX, and the entire industry, have a clear responsibility to build safe, trustworthy places where people can own and transact their digital assets. This means relentlessly enhancing our proactive defenses to block scams and fraudulent payments before they exit our ecosystem,” said Haider Rafique, Global Managing Partner, OKX. “The wild west days of crypto are over. What we’re building here is trust, radical transparency, and empowerment for millions.”
Chainalysis and Law Enforcement
The ongoing collaboration between Chainalysis and law enforcement agencies is crucial in the fight against crypto-related fraud. Their combined efforts are leading to the recovery of stolen funds and the disruption of criminal operations.
This enhanced crypto fraud prevention system marks a significant step towards a safer and more secure cryptocurrency ecosystem. OKX’s proactive approach sets a new standard for the industry, emphasizing the importance of preventing fraud before it occurs. related Fraudulents news
By adopting Chainalysis Alterya, OKX is taking a proactive stance against fraud, demonstrating a commitment to protecting its users and fostering a more trustworthy environment for digital asset transactions. This move not only safeguards customers but also raises the bar for other exchanges, signaling a shift towards prioritizing prevention over remediation in the fight against crypto crime.
