Palo Alto, California, USA, September 5, 2024, Chainwire
AI-powered platform detects fraud at its earliest stages, preventing potential losses of billions of dollars in cryptocurrency
As scams become more sophisticated and increasingly target cryptocurrencies to launder billions of dollars in losses, CUBE3.AI is pioneering a new era in fraud prevention. Today, the company announced major enhancements to its platform that bridge the gap between Web2 and Web3, enabling real-time risk assessment and proactive blocking of scams like pig slaughter, ransomware, sexual extortion, and more.
In 2023, investment scams alone resulted in over $4.5 billion in losses, of which 86% were crypto-related. A significant portion of these scams originate in Web2 – through social media interactions, fraudulent websites, or other online channels – before moving to crypto, where recovering stolen assets becomes nearly impossible. While the industry has traditionally focused on either Web2 or Web3, CUBE3.AI leverages unique expertise and proprietary AI technology that seamlessly integrates both domains, enabling fraud detection and prevention across the entire digital landscape. This approach addresses a critical gap by offering a holistic view of fraud patterns across both Web2 and Web3, enabling early detection, thorough risk assessment, and timely intervention.
“The most damaging scams often involve complex processes that span both traditional and crypto domains. We’ve built a solution that looks at the full picture, from initial contact on Web2 to final transactions on Web3,” said Einaras Gravrock, CEO of CUBE3.AI. “Preventing fraud in real-time is a complex challenge that requires expertise in both domains, along with advanced technology capable of interpreting diverse data and understanding context. Our platform is about more than just technology – it’s about restoring trust. Whether protecting businesses from dirty money or safeguarding individuals from devastating losses, this solution marks a significant step forward in the fight against digital fraud.”
CUBE3.AI’s enhanced platform integrates data from social media, online platforms, and dark web sources, combining it with real-time Web3 transaction monitoring. Proprietary AI models trained to interpret the context of this data generate a comprehensive risk score, enabling businesses to act quickly before scams escalate. By offering seamless visibility into both Web2 and Web3 activities, CUBE3.AI enables organizations to preemptively block threats that would otherwise go unnoticed until it’s too late.
“As criminals increasingly turn to AI to scale their attacks, our response must be just as sophisticated. Our AI-powered tools connect the dots between Web2 and Web3, giving us a unique advantage in identifying threats before they escalate,” said Chris Griffiths, CTO of CUBE3.AI. “By offering this level of visibility and speed, we empower businesses to make informed decisions and protect their users in real time.”
These new capabilities provide exchanges, financial institutions, and service providers with the early detection and risk management they need to avoid facilitating fraud, protect user trust, and minimize financial losses. By offering a solution that integrates data from both Web2 and Web3, CUBE3.AI sets a new standard in fraud prevention, helping businesses stay ahead of rapidly evolving threats.
About CUBE3.AI
CUBE3.AI is an innovative platform dedicated to preventing cryptocurrency-related fraud and crime in real-time. Using proprietary AI models, CUBE3.AI protects digital assets and transactions against fraud, cyberattacks, hacks, scams, and compliance risks, enabling businesses to protect their assets, reduce chargebacks, and minimize financial losses. Our technology not only responds to incidents, but also anticipates and prevents them before they occur, protecting businesses and individuals from the risks associated with cryptocurrency transactions.
The company was founded by a team of machine learning researchers, fraud prevention specialists, blockchain engineers and white hats, and is backed by leading investors including Blockchange Ventures, Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB and TA Ventures. Users can learn more at www.CUBE3.AI and join CUBE3.AI on LinkedIn, Twitter and Telegram.
ContactHead of MarketingRasa PetuchCUBE3.AI[email protected]
This article was originally published on Chainwire
