Palo Alto, California, USA, September 5, 2024, Chainwire
AI-driven platform detects fraud in its early stages, preventing billions in potential cryptocurrency losses
As scams become more sophisticated and increasingly target cryptocurrencies to launder billions of dollars in losses, CUBE3.AI is ushering in 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 such as pig slaughter, ransomware, sextortion and more.
In 2023, investment scams alone resulted in over $4.5 billion in losses, 86% of which were related to cryptocurrencies. A significant portion of these scams originate in Web2 (social media interactions, fraudulent websites, or other online channels) before moving to cryptocurrencies, where recovery of 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 the two domains, enabling fraud detection and prevention across the entire digital landscape. This approach fills a critical gap by providing a holistic view of fraud patterns across Web2 and Web3, enabling early detection, in-depth risk assessment, and rapid intervention.
“The most damaging scams often involve complex journeys that span both traditional and crypto spaces. We’ve designed a solution that looks at the entire 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, as well as advanced technology that can interpret diverse data and understand context. Our platform is more than just technology: it’s about restoring trust. Whether it’s protecting businesses from dirty money or protecting 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 providing transparent visibility into Web2 and Web3 activity, CUBE3.AI enables organizations to preemptively block threats that would otherwise go unnoticed until it’s too late.
“Criminals are increasingly relying on AI to scale their attacks, so our response must be just as sophisticated. Our AI-powered tools connect Web2 to Web3, giving us a unique advantage in identifying threats before they escalate,” said Chris Griffiths, CTO of CUBE3.AI. “By delivering this level of visibility and speed, we enable 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 delivering a solution that integrates data from 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 real-time fraud and cryptocrime prevention. Using proprietary artificial intelligence models, CUBE3.AI protects digital assets and transactions from fraud, cyber exploits, hacks, scams, and compliance risks, enabling businesses to safeguard 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 crypto transactions.
The company was founded by a team of machine learning researchers, fraud prevention specialists, white hats, and blockchain engineers, 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 connect with CUBE3.AI on LinkedIn, Twitter and Telegram.
Contact
Marketing Manager
Rasa Petuch
CUBE3.AI
rasap@cube3.ai
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