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Scorechain releases new AI to combat cryptocurrency criminal activity

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Scorechain, a crypto-tracking and risk management solutions provider, has launched a new artificial intelligence (AI) tool, which is able to detect fraud patterns, in its Anti-Money Laundering cryptocurrency transaction monitoring software.

The AI feature aims to provide a more accurate risk-scoring for cryptocurrencies activity with more sophisticated blockchain services identification.
Scorechain Artificial Intelligence (SCai) allows the platform to predict the type of service a group of addresses stands for. The scalable model has given more than 92 per cent accurate predictions during the validation phase.
SCai predicts entity types when it is related to darkweb marketplaces, gambling, mixing and exchanges platforms. The AI is based on a machine learning prediction model.
SCai has been developed based on academic research and Scorechain labeled data. The AI model has been fed with more than 90 attributes able to analyse transaction patterns and services behaviours for more than 120 million addresses so far.
‘Finding new entities and improving our Blockchain naming coverage is one of our top priorities. Our clients want to have the most rigorous risk-based approach. This is a major breakthrough since the AI already identified five million addresses such as darkweb marketplaces. Results have proved false positive are really low,’ says Pierre Gérard, Scorechain CEO.

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