News Explorer — Artificial Intelligence Can Detect Money Laundering on the Bitcoin Blockchain

May 1, 6:46 pm

Decrypt

Artificial Intelligence Can Detect Money Laundering on the Bitcoin Blockchain

A new report by blockchain analysis firm Elliptic and the MIT-IBM Watson AI Lab reveals that artificial intelligence can be used to detect money laundering patterns and identify wallets used in crimes on the Bitcoin blockchain. By using deep learning AI models, the researchers were able to separate legal and illicit transactions and uncover potential money laundering activities. This technique could significantly enhance the work of law enforcement in combating money laundering in the cryptocurrency industry.