Amid rising crypto crime, Crystal Intelligence is acquiring Whale Alert’s Scam Alert platform to turn individual victim reports into actionable intelligence for law enforcement.
Crystal Intelligence, a blockchain analytics and risk monitoring firm, announced it’s acquiring Scam Alert, a public platform for reporting and detecting crypto scams developed by Whale Alert in a move to make it easier for victims to report scams and help law enforcement agencies identify wider fraud networks.
In a press release shared with crypto news, Crystal Intelligence said the crypto fraud has reached “unprecedented levels, and victims are often left isolated, unsupported, and unaware that they may be part of a broader, coordinated scheme.”
With Scam Alert, the blockchain forensic firm plans to use its analytics tools to link individual scam reports and uncover larger operations.
Crystal Intelligence chief executive Navin Gupta explained that individual victims “rarely see justice, enabling scammers to repeatedly harm thousands more,” which is why the firm decided to buy Scam Alert. Despite the acquisition, whose price remains unclear, Crystal Intelligence says Scam Alert will be structured as a standalone, non-commercial project.
Crystal Intelligence will kick things off with multilingual data gathering, support tools for victims, and partnerships with regulators and law enforcement around the world, the company said. Crypto crime losses hit $9.3 billion in 2024, a sharp 66% jump from the year before, according to the FBI’s Internet Crime Complaint Center.
