Fighting financial crime in the crypto world is a constant battle. Recently, Chainalysis, a leader in blockchain analysis, showcased its updated strategies. They want to stop fraud and hacks before they even start. Their focus is clearly on decentralized finance (DeFi), financial technology companies, and centralized exchanges.
At a recent Chainalysis Nodes Colombia 2025 event held on Wednesday, August 13, the company shared its vision. They aim to shift from simply reacting to crimes to actively preventing them. While overall criminal activity in the crypto space has actually dropped year over year, the firm noted a concerning rise. Attacks are increasing significantly in areas like DeFi platforms, fintech services, and major crypto exchanges. A specialist at the event pointed out a major weakness: people. Human error remains the biggest vulnerability in most cyberattacks. They highlighted past incidents involving platforms like WazirX and Bybit. These cases showed how bad actors exploit human mistakes and weak internal controls to breach systems.
Scams have become incredibly profitable. Data from Chainalysis shows that from 2021 to 2024, criminals pulled in over $12 billion each year from scams. The company warns this number is likely higher. Not all incidents get reported or even discovered. Common tricks include investment scams and pyramid schemes. But a particularly disturbing trend is the rise of "pig butchering." This cruel method combines long-term social engineering with financial fraud. Alarmingly, in some cases, the people carrying out these scams are victims themselves. They have been kidnapped and forced to commit these crimes. Criminals also use artificial intelligence (AI) to boost their efforts. They create fake interviews or false identities to fool victims. There are even links between criminal networks, money laundering services, and lists of potential targets.
Chainalysis is fighting back with new technology. During the conference, they introduced solutions designed to anticipate fraud and hacks. These new tools work alongside their existing ones. Together, they strengthen the fight against crypto scams and illegal activities. The company specifically highlighted two new tools. Alterya is a preventive platform that uses AI. It scans and monitors transactions. It comes with tools to detect risks and suspicious accounts. Alterya performs real-time checks to flag unusual operations. Hexagate is another important system. It provides on-chain prevention through continuous monitoring. It helps find exploits, hacks, and security flaws. Hexagate includes a special system called Gatesigner. This part analyzes and blocks risky transactions right before they can happen. The company stated that these solutions could detect up to 98.4% of attacks in their very first stages. This means they can spot the problem before any funds are stolen.
Understanding how attacks unfold is key to stopping them. Navarro, a company representative, broke down the typical stages of a hack. There are generally four phases:
- Pre-attack: This involves getting money and making plans.
- Attack Initiation: The criminals set up their infrastructure.
- Attack: Funds are actually stolen.
- Post-attack: The stolen assets are hidden.
With the right monitoring, the first two phases can often be stopped. This proactive approach can prevent many threats from causing significant damage. Navarro finished by emphasizing that technology alone is not enough. Companies and individuals need constant education. Training and awareness are vital to reduce human vulnerability. This is often the weakest link in the entire security chain.
