Elliptic, MIT, IBM Develop AI to Detect Bitcoin Money Laundering Using Largest-Ever Dataset

May 1, 2024, 01:20 PM

Elliptic, in collaboration with MIT and IBM, has developed a new artificial intelligence model aimed at detecting patterns of money laundering within Bitcoin transactions. This AI model utilizes a groundbreaking dataset comprising 200 million Bitcoin transactions, which is reportedly the largest of its kind, exceeding previous datasets by a factor of 1000. The dataset and the AI model are designed to enhance the capabilities of blockchain analytics by identifying the 'shape' of money laundering activities on the Bitcoin blockchain.