Palo Alto, California, United States, September 5th, 2024, Chainwire

AI-Driven Fraud Prevention Platform Advances

Preventing Billions in Crypto Losses

As scams targeting cryptocurrency increase, CUBE3.AI is leading in fraud prevention. The company has announced significant upgrades to its platform, bridging the divide between Web2 and Web3. This allows for real-time risk assessment and proactive blocking of scams such as pig butchering, ransomware, and sextortion.

In 2023, investment scams alone amounted to over $4.5 billion in losses, with 86% of those linked to cryptocurrency. Many of these scams begin in Web2—via social media, fake websites, or other channels—before moving into crypto, making asset recovery nearly impossible. Traditionally, the industry has focused separately on Web2 or Web3, but CUBE3.AI combines these areas using exclusive AI technology to enable comprehensive fraud detection and prevention.

“The most damaging scams often involve complex journeys that span both traditional and crypto spaces. We’ve built a solution that looks at the full picture, from initial contact in Web2 to final transactions in Web3,” said Einaras Gravrock, CEO of CUBE3.AI.

CUBE3.AI’s platform integrates data from social media, online platforms, and dark web sources, along with real-time monitoring of Web3 transactions. Proprietary AI models interpret this data to create an exhaustive risk score, empowering businesses to take swift action against scams.

“As criminals increasingly rely on AI to scale their attacks, our response has to be just as sophisticated. Our AI-powered tools connect the dots between Web2 and Web3, giving us a unique edge in identifying threats before they escalate,” remarked Chris Griffiths, CTO of CUBE3.AI.

These advancements offer exchanges, financial institutions, and service providers vital early detection and risk management to combat fraud and safeguard user trust. CUBE3.AI sets a new standard in fraud prevention by seamlessly integrating data from both Web2 and Web3, helping businesses outpace ever-evolving threats.

About CUBE3.AI

CUBE3.AI is an innovative platform focused on real-time fraud and crypto crime prevention. It employs proprietary AI models to shield digital assets from fraud, cyber exploits, hacks, scams, and compliance risks, thereby enabling businesses to safeguard their resources, minimize chargebacks, and cut financial losses. Founded by a team of experts in machine learning, fraud prevention, white hat hacking, and blockchain engineering, CUBE3.AI is backed by notable investors including Blockchange Ventures, Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures. Learn more at www.CUBE3.AI and connect with CUBE3.AI on LinkedIn, Twitter, and Telegram.

Contact

Head of Marketing
Rasa Petuch
CUBE3.AI
rasap@cube3.ai

This article was originally published on Chainwire.