Blockchain analysis firm Elliptic, MIT, and IBM have released a new AI model—and the 200-million-transaction dataset it's trained on—that aims to spot the “shape” of bitcoin money laundering.
One task where AI tools have proven to be particularly superhuman is analyzing vast troves of data to find patterns that humans can't see, or automating and accelerating the discovery of those we can. That makes Bitcoin 's blockchain, a public record of nearly a billion transactions between pseudonymous addresses, the perfect sort of puzzle for AI to solve.
Correctly identifying 14 out of 52 of those customer accounts as suspicious may not sound like a high success rate, but the researchers point out that only 0.1 percent of the exchange's accounts are flagged as potential money laundering overall. Their automated tool, they argue, had essentially reduced the hunt for suspicious accounts to more than one in four.
Cryptocurrency Artificial Intelligence Crime Money
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