Blog - Cylynx

Thoughts, Stories, Analysis

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Using Data Mining and Machine Learning to Detect Cryptocurrency Risk

An overview of how natural language processing methods (NLP) can be used to tag adverse news reports for cryptocurrency monitoring - a joint project with NUS Business Analytics students.

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Machine Learning for Fraud Detection

We present a guide to using machine learning for fraud detection, going through the advantages of ML vs rule-based methods, use cases and some important considerations to keep in mind when adopting such an approach.

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Cylynx Named 'One to Watch' in Blockchain Transaction Monitoring

Singapore/Hong Kong, 15 December 2020 – Cylynx has been recognised as 'One to Watch' in Blockchain Transaction Monitoring in the 3rd Regulation Asia Awards for Excellence 2020 in an online ceremony on 15 December 2020.

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First Bitcoin Mixer Penalized for AML Violations

FinCEN has taken action against Larry Dean Harmon, founder and operator of bitcoin mixing service Helix and Coin Ninja for violations of the Bank Secrecy Act. What can we learn about how suspicious entities operate and what do these guidelines mean to exchanges operating in the United States?

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AML Red Flags that VASPs and FIs should know

Structuring of Funds. Use of Mixers / Tumblers. Doctored identities. What are the AML red flags that you should be aware of? A summary of money laundering and terrorist financing indiciators highlighted by the FATF.

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Thoughts and Analysis on the FinCEN SAR Leaks

More than 2,000 suspicious transaction reports filed by nearly 90 financial institutions were leaked. We go through what are SARs, discuss the broader implications, analyse a sample dataset made public and share our thoughts on what it takes to fix the problem.

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Cylynx is Shortlisted as a G20 Techsprint Finalist

The G20 TechSprint initiative, aims to highlight the potential for technologies to resolve regulatory compliance and supervisory challenges. Team Cylynx is shortlisted as one of the finalists in the problem statement of monitoring AML/CFT risks on crypto assets.

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Analyzing The Growth Of Stable Coins

With its total market cap exceeding $10 Billion in May 2020, stable coins are becoming increasingly popular with investors in the cryptocurrency space. In this article, we investigate 5 popular ERC20 stable coin - TUSD, USDT, PAX, USDC and BUSD. Through a combination of time series analysis and network plots, we characterise their growth trajectory and highlight key patterns and behaviours.

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Tracing the Trail of the Upbit Hack

We analyzed the activities of the Upbit hack by tracing transaction trails and reveal sophisticated attempts by the hackers to conceal the origin of funds and cash out the stolen ETH through exchanges.

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Efficient Large Graph Label Propagation Algorithm

The structure of a blockchain fits very naturally into a graph representation, with addresses being the nodes and transactions being the edges of a graph. By modelling the blockchain as a graph, we can get a comprehensive view of the activities that are on-going and how the different entities are related to each other.

analytics ethereum exchanges

Understanding the Structure of Exchanges on the Ethereum Chain

Being the central gateway in the cryptocurrency world, it is surprising how little work has been done to characterise the structure of exchanges. This includes their governance structure, how they receive funds and carry-out transactions on behalf of their users. In this post, we analyse the structure of exchanges on the ethereum chain