Crystal Intelligence to acquire Scam Alerts, Whale Alert's fraud notification platform

Blockchain forensics company Crystal Intelligence plans to acquire Scam Alerts, a Web3 fraud notification platform operated by Whale Alert. The transaction terms have not been disclosed yet and are expected to be completed by the end of May. After the acquisition, Scam Alerts will become an independent non-commercial entity within Crystal Intelligence. After this acquisition, Whale Alert will serve as a consulting partner. Crystal Intelligence plans to enhance the collection of fraud reports and victim support structures by improving language support and strengthening cooperation with global law enforcement agencies. According to a report by the Federal Bureau of Investigation in the United States, financial crimes involving cryptocurrencies are increasing, with related complaints resulting in losses exceeding $9.3 billion in 2024, a 66% increase from 2023.