OKX Launches Alterya Fraud Detection With Chainalysis

OKX has expanded its partnership with Chainalysis by launching Alterya, a proactive fraud detection platform designed to block scam related withdrawals before funds leave the exchange.

Key Takeaways

• OKX has integrated Chainalysis Alterya to detect and block scam linked withdrawals before funds are sent
• $17 billion in crypto was lost to scams in 2025, according to Chainalysis research
• Alterya monitors $23 billion in monthly transactions and has prevented over $300 million in losses in the past year
• AI driven scams such as voice cloning and deepfake impersonation are becoming significantly more profitable

What Happened?

Crypto exchange OKX announced an expanded partnership with blockchain analytics firm Chainalysis to integrate Alterya, an AI powered fraud prevention platform. The system is designed to identify scam related payment destinations and block transfers before users send funds to fraudulent accounts.

The move reflects a broader shift across the crypto industry toward preventative security measures, rather than relying solely on post transaction monitoring and investigations.

A Shift Toward Proactive Scam Prevention

Alterya analyzes scam infrastructure across websites, social media platforms, and messaging channels. It connects suspicious activity to financial identifiers such as crypto wallet addresses, digital wallets, and bank accounts. Once integrated into OKX’s withdrawal flow, the system can flag or block transfers to addresses believed to be associated with active scams.

Traditional anti-money laundering tools typically focus on the sender, using Know Your Customer checks and transaction monitoring. Alterya instead concentrates on the recipient side, identifying wallets tied to scam networks and money mule operations. This approach is especially important in cases of authorized push payment fraud, where victims are persuaded to send funds voluntarily.

Chainalysis acquired Alterya early last year in a deal reportedly valued at $150 million, marking its expansion beyond blockchain tracing into real time fraud prevention.

According to company data, Alterya monitors more than $23 billion in monthly transaction volume and has helped prevent over $300 million in losses over the past 12 months. Some exchanges deploying Chainalysis prevention tools have reported up to 60 percent fraud reduction.

Industry Collaboration and Law Enforcement Wins

OKX and Chainalysis have a long standing working relationship that includes compliance efforts and collaboration with global authorities. Their cooperation has contributed to significant enforcement actions, including the largest ever fraud related seizure of crypto funds by the U.S. Department of Justice, as well as the freezing of nearly $50 million in USDT linked to scam operations.

Haider Rafique, Global Managing Partner at OKX, said:

Jonathan Levin, Co-Founder and CEO of Chainalysis, added:

Rising Scam Losses Push Industry Action

Fraud remains one of the most persistent threats in crypto. Chainalysis estimates that $17 billion was lost to crypto related scams in 2025. Impersonation scams, including fake investment platforms and individuals posing as trusted entities, recorded a year on year increase of about 1,400 percent.

Scams that use AI tools such as voice cloning and deepfake impersonation were reportedly 4.5 times more profitable than traditional schemes.

As losses continue to rise, exchanges and compliance providers are expanding real time monitoring and risk scoring tools to better protect users before damage occurs.

CoinLaw’s Takeaway

In my experience covering crypto crime, the biggest weakness has always been reacting after the money is gone. Once funds move, recovery becomes extremely difficult. I see this move by OKX as a meaningful shift toward prevention instead of damage control.

If exchanges can block scam payments before they leave the platform, it changes the entire risk equation. I believe proactive screening will soon become a standard feature across major exchanges, especially as AI driven scams become more advanced and convincing.

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