Crystal Intelligence acquires Scam Alert, aims to protect crypto users from fraud
2025-05-01T14:23:13Z
Crystal buys Scam Alert to fight crypto scams. Uses AI to track fraud and help victims. Backed by Tether, Polygon, and Ethereum Foundation. As crypto fraud reaches alarming new heights, blockchain analytics firm Crystal Intelligence has taken a bold step to c…
Crystal buys Scam Alert to fight crypto scams.
Uses AI to track fraud and help victims.
Backed by Tether, Polygon, and Ethereum Foundation.
As crypto fraud reaches alarming new heights, blockchain analytics firm Crystal Intelligence has taken a bold step to curb the menace.
At Token2049 Dubai, the company announced its acquisition of Scam Alert, a crypto scam reporting platform created by Whale Alert.
This move is set to transform how cryptocurrency scams are detected and reported, using Crystal’s advanced analytics to connect scattered reports and provide critical intelligence to law enforcement agencies worldwide.
Crypto crime in the blockchain ecosystem
In 2024 alone, global losses from crypto scams surged 66% year-on-year to more than $9.3 billion, according to the FBI’s Internet Crime Complaint Center.
Victims often find themselves isolated and unsupported, with little hope of recovering their assets or seeing justice served.
Crystal’s acquisition of Scam Alert seeks to change that by creating a structured, transparent, and collaborative ecosystem for fraud detection and victim support.
Using its proprietary clustering and blockchain analytics, Crystal Intelligence will aggregate scam reports submitted through Scam Alert, identifying larger fraud networks and exposing coordinated criminal activity.
This will allow virtual asset service providers (VASPs) and law enforcement to take timely action and prevent further victimization.
“We receive countless distress messages from scam victims, yet there’s rarely a system to help them,” said Navin Gupta, CEO of Crystal Intelligence.
“Scam Alert represents our commitment to offer real help by triaging genuine reports and working with enforcement agencies to trace and recover stolen assets.”
Whale Alert, which built Scam Alert to tackle crypto crime transparency, will remain on board as an advisory partner.
The collaboration is expected to amplify the platform’s reach, leveraging Whale Alert’s influential social media presence and extensive fraud-tracking experience.
Marina Khaustova, COO of Crystal, emphasized the platform’s potential impact: “Scam Alert can be a lifeline for those affected by crypto fraud. Victims deserve a recognized pathway for support and fund recovery. We’re turning scattered experiences into actionable intelligence.”
Phased global rollout
Crystal Intelligence plans a phased global rollout of Scam Alert, starting with multilingual data collection and regional victim support hubs.
The platform will also adopt a hyperlocal intelligence approach, engaging local blockchain communities, foundations, and regulatory bodies to ensure grassroots involvement.
Notably, the initiative has received backing from major industry stakeholders, including Tether, Polygon, and the Ethereum Foundation, underscoring a growing consensus on the urgent need for crypto safety infrastructure.
Structured as a non-commercial, standalone project, Scam Alert is a call to action for the wider blockchain industry to unite against crypto scams through shared intelligence, transparency, and collaboration.
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