Case Study: Coincash achieves 60% fraud reduction and blocks money launderers with SEON

Crypto Platform Deploys SEON Custom Velocity Rules to Block Money Launderers and Cut Down Fraud by 60%

Coincash, a leading Hungarian crypto exchange and ATM operator, faced significant money‑laundering risk and an onerous, manual KYC process that slowed growth. To automate checks and better flag fraudsters using stolen bank details, Coincash deployed SEON’s fraud prevention platform—integrating custom filters, velocity rules, reverse email lookup and real‑time data enrichment via API.

By using SEON’s API-based rules and alerts (piped into Slack), Coincash automated KYC without adding customer friction and immediately improved detection: manual reviews fell 90%, fraud volume dropped 60%, risk-team hours were cut by 50%, multi‑account detection rose 60%, IP‑related issue detection rose 80%, and transaction management efficiency improved 20%—with SEON helping identify hundreds of stolen‑account cases that would have cost millions.

Coincash

Gabor Galantai

COO and Founder