FSS strengthens virtual asset investigation functions…AI automatically identifies suspicious groups

FSS strengthens virtual asset investigation functions…AI automatically identifies suspicious groups

The Financial Supervisory Service (FSS) announced on the 3rd that it has strengthened its ability to detect unfair trading by independently developing a virtual asset investigation infrastructure incorporating artificial intelligence (AI).

The FSS developed its virtual asset investigation infrastructure to compensate for the limitations of responding promptly to unfair virtual asset trading with limited personnel, and this is its second update.

This update is characterized by the enhancement of the real-time monitoring system.

It collects and analyzes various information other than price in real-time by utilizing the public Application Programming Interfaces (APIs) of domestic and international exchanges. An API is a function that automatically places orders in the virtual asset market based on pre-set conditions.

A total of 8 exchanges are used for information collection. These include 5 domestic exchanges (Upbit, Bithumb, Gopax, Coinone, Korbit) and 3 overseas exchanges (Binance, Coinbase, OKX).

This function comprehensively analyzes real-time virtual asset prices, trading volumes, and abnormal transaction indicators through a market overview dashboard to immediately determine unfair trading.

In addition, an AI-based function for extracting linked suspicious groups has been developed.

Previously, FSS investigators had to manually verify the connection between funds and order media to determine suspicious groups, but this function automatically analyzes trading patterns and finds related accounts at once. Accounts exhibiting similar behavior can be grouped together, and the group to which a suspicious account belongs can be identified as a suspicious group.

The FSS stated, "We will gradually expand AI-based analysis functions," and added, "In the future, we will develop functions to support the creation of investigation documents using text analysis capabilities, and functions to present wallets and accounts that require tracking using fund flow analysis capabilities."