Case Study: xCoins (cryptocurrency exchange) achieves 95% reduction in fraudulent activity with SEON

Xcoins Reduces Fraudulent Activity by 95%

xCoins, a leading cryptocurrency exchange trusted by 250,000 customers and known for its 15‑minute onboarding, saw fraud surge during the pandemic as multi-accounting drove fraud costs to about $90K and drew card networks' scrutiny. To tackle this, xCoins adopted SEON (using SEON Sense) to strengthen their fraud detection while preserving their industry‑low chargeback performance (0.01%).

SEON deployed device fingerprinting, IP analysis, cookie hashing, geolocation and custom risk rules, with integration completed in under two weeks and tailored rules feeding a manual review queue to spot linked accounts. Using SEON, xCoins reduced fraudulent activity by 95%, eliminated multi‑accounting attempts by 99%, and solidified its standing with payment processors.

xCoins

Marcela Podlesná

Fraud & Chargeback Monitoring