;

Artificial Intelligence Identifies a Millionaire Crypto-Scam and Helps Locating its Perpetrators

Artificial Intelligence Identifies a Millionaire Crypto-Scam and Helps Locating its Perpetrators

The world of crypto and blockchain technologies evolves every day, and along with it, criminals also find new forms of delinquency. However, crime does not pay, and the field of cybersecurity also evolves at a frantic pace.

One example of the significant progress in this area can be found in South Korea. Yesterday, The Seoul Special Judicial Police Bureau for Public Safety arrested two people responsible for running a multi-million dollar Ponzi scheme. Orders were also issued against ten collaborators accountable for recruiting people who would later become victims of the scam.

Korean Flag

This would be a routine arrest if it weren’t for the fact that it wasn’t “human” agents who solved the case. The police were able to catch these criminals thanks to what they called an “artificial intelligence [AI] investigator.

In a conversation with the Korea JoongAng Daily, Hong Nam-ki, the section chief of the bureau’s second investigation team commented that the algorithm was able to dismantle the gang’s operations after comparing it with common data such as keywords and other behavior patterns typical of this type of fraudulent activities:

“Through keywords such as Ponzi, loan and recruiting members, we were able to teach the AI patterns of Ponzi schemes. The program can also identify advertisement patterns and identified the enterprise in question, which [was caught] with evidence provided by an unnamed informant.

M-Coin: The Crypto That Never Was

admin

Read Previous

Artificial Intelligence Robot ‘Blue’ Can Efficiently Perform Intricate Human Tasks

Read Next

Can AI Help Doctors Diagnose Diseases? New England Researchers Probe Benefits, Challenges

Leave a Reply

Your email address will not be published. Required fields are marked *