The application of artificial intelligence (AI) in the fight against crimes involving cryptocurrencies

Due to the rise in cyberattacks and cryptocurrency thefts over the past few years, AI is being used increasingly frequently.

The ability of AI to spot patterns in massive amounts of data that would be challenging for humans to notice is one of the main advantages of employing AI to fight crypto crimes. As a result, law enforcement organisations can immediately spot suspicious behaviour and look into possible illegal activities.

AI is already being used by a number of businesses and organisations to tackle cryptocurrency crimes. For instance, the blockchain research startup Chainalysis use machine learning algorithms to spot shady activity on the blockchain. CipherTrace, another business, employs AI to examine blockchain transactions and spot potentially illegal behaviour.

Although AI is an effective tool for thwarting crypto crimes, there may also be some risks associated with its application. AI systems, for instance, might not be able to recognise all forms of criminal conduct, and there is a chance that they might mistakenly flag legitimate transactions as suspect.

Overall, AI is becoming crucial in the battle against crimes involving cryptocurrencies. It's probable that even more advanced AI technologies will be created to counter these dangers as the crypto sector continues to flourish and new threats surface, any other threats likely to come up alongside the newer tech?