Palo Alto, California, United States, September 5th, 2024, Chainwire
A cutting-edge AI platform, CUBE3.AI, is leading the charge in fraud prevention by detecting and blocking sophisticated scams that target cryptocurrencies, saving billions in potential losses. With the rise of scams like pig butchering, ransomware, and sextortion, CUBE3.AI has unveiled major enhancements to its platform that combine Web2 and Web3 technologies for real-time risk assessment and proactive scam prevention.
In 2023, investment scams resulted in over $4.5 billion in losses, with 86% involving cryptocurrency. Many of these scams start in Web2 platforms before transitioning into the crypto space, making asset recovery difficult. CUBE3.AI's unique approach integrates both Web2 and Web3 expertise, utilizing AI technology to detect and prevent fraud across the digital landscape. This holistic view enables early detection, thorough risk assessment, and timely intervention, addressing a crucial gap in the industry.
The CEO of CUBE3.AI, Einaras Gravrock, emphasized the importance of a comprehensive approach to fraud prevention that spans both traditional and crypto spaces. By analyzing the full journey of a scam from Web2 to Web3, CUBE3.AI's platform offers real-time protection and restores trust in digital transactions.
The enhanced platform of CUBE3.AI aggregates data from social media, online platforms, and the dark web, combined with real-time monitoring of Web3 transactions. AI models interpret this data to generate a risk score, allowing businesses to act swiftly and preemptively block threats. By offering visibility into both Web2 and Web3 activities, CUBE3.AI empowers organizations to stay ahead of evolving threats and protect their users.
CTO Chris Griffiths highlighted the importance of AI-powered tools in identifying and mitigating threats before they escalate. By connecting the dots between Web2 and Web3, CUBE3.AI provides businesses with the necessary visibility and speed to make informed decisions in real-time.
These new capabilities provide exchanges, financial institutions, and service providers with early detection and risk management tools to prevent fraud, protect user trust, and minimize financial losses. By setting a new standard in fraud prevention, CUBE3.AI helps businesses navigate the rapidly changing landscape of digital threats.
Analysis: CUBE3.AI's AI-driven platform offers a cutting-edge solution to the growing threat of fraud in the cryptocurrency space. By integrating Web2 and Web3 technologies, the platform provides real-time risk assessment and proactive scam prevention, saving businesses billions in potential losses. With the rise of sophisticated scams targeting cryptocurrencies, CUBE3.AI's comprehensive approach to fraud prevention sets a new standard in the industry, empowering organizations to stay ahead of evolving threats and protect their users.
