"Unfair Coin Trading, No More: FSS Launches Real-Time AI Surveillance"
Financial authorities are actively responding to increasingly sophisticated and complex unfair trading in virtual assets by automating processes such as detecting abnormal transactions and identifying suspected offenses using artificial intelligence (AI).
On August 20, the Financial Supervisory Service announced that it has significantly expanded the use of AI in its market surveillance work to detect abnormal trading activity in the virtual asset market and determine whether to launch an investigation.
To this end, the agency has developed a feature for identifying suspicious assets. This function uses AI to find ultra-short-term price manipulation suspects and automatically analyzes the causes of sharp price fluctuations by examining related asset notices, news, and other information. The system can also detect when the trading volume distribution of a specific asset deviates from the normal pattern, deeming it potentially indicative of wash trading or collusive trading, and compare actual trading patterns with standard patterns.
The Financial Supervisory Service has also implemented features to detect unfair trading online, such as illegal front-running via so-called "leading rooms" and posts promoting unfair transactions. Text and voice data from posts or videos are converted into text, after which generative AI models analyze the context for indications of illegal activity and assess the likelihood of wrongdoing.
The system also selects abnormal transactions that require in-depth analysis. It determines the necessity for further scrutiny based on monitoring results for unusual trading, as well as related complaints, whistleblower reports, and media coverage.
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A representative from the Financial Supervisory Service stated, "By building an AI-based market surveillance system, we intend to respond swiftly to increasingly intelligent and complex unfair trading in virtual assets, even with limited personnel."
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