Data Mining for Detecting Bitcoin Ponzi Schemes

  title={Data Mining for Detecting Bitcoin Ponzi Schemes},
  author={Massimo Bartoletti and Barbara Pes and Sergio Serusi},
  journal={2018 Crypto Valley Conference on Blockchain Technology (CVCBT)},
Soon after its introduction in 2009, Bitcoin has been adopted by cyber-criminals, which rely on its pseudonymity to implement virtually untraceable scams. [] Key Method We apply data mining techniques to detect Bitcoin addresses related to Ponzi schemes. Our starting point is a dataset of features of real-world Ponzi schemes, that we construct by analysing, on the Bitcoin blockchain, the transactions used to perform the scams. We use this dataset to experiment with various machine learning algorithms, and we…

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