Crystal Intelligence to Acquire Scam Alerts Platform

According to PANews, blockchain forensics firm Crystal Intelligence is set to acquire the Web3 scam notification platform, Scam Alerts, operated by Whale Alert. While the terms of the deal have not been disclosed, the acquisition is expected to be finalized by the end of May. Post-acquisition, Scam Alerts will function as an independent non-commercial entity within Crystal Intelligence. Following the acquisition, Whale Alert will continue to collaborate as an advisory partner. Crystal Intelligence aims to enhance scam reporting and victim support by improving language support and strengthening cooperation with global law enforcement agencies. A report from the U.S. Federal Bureau of Investigation indicates a rise in financial crimes involving cryptocurrencies, with related complaints in 2024 resulting in losses exceeding $9.3 billion, marking a 66% increase from 2023.