Monday, February 10, 2025
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At Elliptic, we collect a huge amount of data about cryptocurrency usage. We combine automated processes with human analysis to connect cryptocurrency wallets and transactions with actors ranging from regulated exchanges to ransomware operators. This data underpins our software products, which are used by crypto companies and financial institutions to monitor risky transactions.

This data also gives us the opportunity to train machine learning models to automatically detect whether transactions are linked to illicit activity – providing powerful new insights our clients can use to prevent financial crime.

However, we are aware that this is a challenge that we can tackle together with the wider community.

To that end, we’ve released the Elliptic Data Set, the world’s largest publicly available annotated transaction dataset of any cryptocurrency. With this, we hope to motivate and enable the development of new techniques for detecting illicit cryptocurrency transactions.

The data set includes 200,000 transactions with a total value of $6 billion. Where known to Elliptic, these transactions are designated as “permitted” (for example those performed by regulated crypto exchanges) or “unpermitted” (for example those performed by dark markets).

To demonstrate the power of this dataset, Elliptic scientists co-authored a paper with researchers from the MIT-IBM Watson AI Lab that shows how the Elliptic dataset can be used in combination with arrays machine learning techniques to successfully identify illegal bitcoin transactions, using only data available from the blockchain.

We are still in the early days of using blockchain insights to identify cryptocurrency financial crime. There is huge potential for using advanced techniques to extract important insights from the blockchain, combined with other data sources. The Elliptic Data Set allows us to collaborate with the community to address this challenge.

You can find a more detailed description of the dataset and our research on Elliptic Medium.

Download and explore the Elliptic Data Set, here.

Read our paper, co-authored with researchers from the MIT-IBM Watson AI Lab, here.

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John DoeCoin

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