CUBE3.AI Unveils AI-Based Technology to Detect and Block a Rapidly Growing Number of New Frauds and Frauds

adminSeptember 6, 2024

Palo Alto, California, USA, September 5, 2024, Chainwire

AI-based platform detects fraud at an early stage, preventing billions of dollars in potential cryptocurrency losses.

As frauds become more sophisticated and increasingly target cryptocurrencies to launder billions of dollars in losses, CUBE3.AI is pioneering a new era in fraud prevention. Today, the company announced major improvements to its platform that bridges the gap between Web2 and Web3, enabling preemptive blocking of frauds such as pig slaughter, ransomware, and sextortion, and real-time risk assessment.

In 2023, over $4.5 billion was lost due to investment fraud, 86% of which involved cryptocurrencies. A significant portion of these frauds originate on Web2 through social media interactions, fraudulent websites, or other online channels, and then transition to cryptocurrencies, making it nearly impossible to recover the stolen assets. While the industry has traditionally focused on Web2 or Web3, CUBE3.AI leverages its unique expertise and proprietary AI technology to seamlessly integrate the two domains, enabling fraud detection and prevention across the entire digital landscape. This approach bridges a critical gap by providing a holistic view of fraud patterns across both Web2 and Web3, enabling early detection, thorough risk assessment, and timely intervention.

“The most damaging frauds often involve a complex journey that spans both the traditional and cryptocurrency spaces. We’ve built a solution that looks at the full picture, from the initial contact on Web2 to the final transaction on Web3,” said Einaras Grabrok, CEO of CUBE3.AI. “Real-time fraud prevention is a complex challenge that requires expertise in both domains, as well as cutting-edge technology to interpret and contextualize diverse data. Our platform is not just about technology; it’s about restoring trust. Whether it’s protecting businesses from dirty money or protecting people from devastating losses, this solution represents 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, combined with real-time Web3 transaction monitoring. Proprietary AI models trained to interpret the context of this data generate comprehensive risk scores, allowing businesses to take action quickly before fraud spreads. CUBE3.AI provides seamless visibility into Web2 and Web3 activity, enabling organizations to proactively block threats that would otherwise go unnoticed until it’s too late.

“As criminals increasingly rely on AI to scale their attacks, our response must be equally sophisticated. Our AI-based tools bridge the gap between Web2 and Web3, giving us a unique advantage in identifying threats before they spread,” said Chris Griffiths, CTO of CUBE3.AI. “By providing this level of visibility and speed, we empower businesses to make informed decisions and protect their users in real time.”

These new features 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. CUBE3.AI sets a new standard in fraud prevention by providing a solution that integrates data from Web2 and Web3, helping businesses stay ahead of rapidly evolving threats.

Introducing CUBE3.AI

CUBE3.AI is an innovative platform dedicated to preventing real-time fraud and cryptocurrency crime. Utilizing proprietary AI models, CUBE3.AI protects digital assets and transactions from fraud, cyber exploits, hacks, fraud, and compliance risks, helping businesses secure 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 cryptocurrency trading.

The company was founded by a team of machine learning researchers, fraud prevention experts, 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 join CUBE3.AI on LinkedIn. twitter And Telegram.