Case Study: Kolex achieves 100% transaction confidence with SEON

Kolex Secures Its NFT and Collectibles Platform with 100% Confidence in Transaction Validity

Kolex, an NFT platform known for pushing the digital collectibles space forward, faced a rise in fraud during the pandemic, especially from stolen credit card deposits. To protect its high-volume transactions, the company moved beyond Circle’s basic built-in anti-fraud protection and sought a stronger real-time solution from SEON.

SEON was deployed across Kolex’s website and web app to collect device, IP, and email data for fraud detection. The implementation was fast and highly effective, cutting fraud rates to near zero in just 4 days, speeding manual reviews by 75%, reducing manual queries by 90%, and giving Kolex 100% confidence in accepting or rejecting transactions.

Kolex

Lewis Bye

Senior Projects and Operations Specialist