At Token2049 in Dubai, Crystal Intelligence revealed it has acquired Scam Alert, a platform for reporting and detecting crypto scams. Originally built by Whale Alert, Scam Alert will join Crystal’s suite of blockchain analytics tools.
The move underscores Crystal’s goal to give scam victims better support and to work more closely with law enforcement.
Empowering Victims Worldwide
Crypto scams drain billions each year and leave victims feeling helpless. Crystal Intelligence has fielded many requests for help from people who lost funds. As a business-to-business analytics provider, it saw a gap in direct support for individuals.Â
By adding Scam Alert, the company aims to offer a safe, public place for anyone to report fraud. Users can choose to stay anonymous or share their identity. Crystal will then use its clustering tools to spot links between reports and alert authorities about large-scale schemes.
How Scam Alert Works?
When someone reports a scam, the platform gathers their details alongside similar complaints. Crystal’s analytics then connect the dots, revealing patterns and exposing wider criminal networks.
This data helps law enforcement react faster and warns other users about active threats. Over time, the system could even aid in recovering stolen funds.
Why This Is Needed?
In April, the crypto sector lost $364 million to hacks, scams and exploits. That figure jumped 1,163% from March’s $28.8 million haul. Such sharp increases show how fast fraud can spread.
Crystal Intelligence sees Scam Alert as a vital tool to slow down these rising losses and to give victims a voice.
Crystal’s effort wins backing from Whale Alert, Polygon, Tether and the Ethereum Foundation. Whale Alert will stay on as an advisory partner.
Together, they plan to expand Scam Alert into multiple languages and strengthen ties with blockchain communities and law enforcement around the world.
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Comments from Leadership
Frank van Weert, founder of Whale Alert, said the partnership can make a real impact where others have fallen short. Navin Gupta, Crystal’s CEO, called the acquisition a crucial step toward reducing crypto fraud’s toll.
Marina Khaustova, Crystal’s COO, added that converting individual reports into collective action will create a safer ecosystem for everyone.
Crystal Intelligence will roll out educational programs to teach users how to spot scams. It will widen its network of global ambassadors and improve Scam Alert’s technology. The platform will also offer deeper data collection to support more regions and languages.
By bringing Scam Alert into its fold, Crystal Intelligence hopes to turn scattered reports into a powerful defence against fraud. In a digital world where losses can skyrocket overnight, the platform offers victims a community and law enforcement a clearer picture of global scams.
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