The South Korean Financial Supervisory Service (FSS), the nation’s primary financial watchdog, has announced a significant expansion of its artificial intelligence (AI) and machine learning (ML) systems dedicated to monitoring cryptocurrency trading activity. This move comes amid increasing concerns over sophisticated market manipulation schemes targeting the highly active South Korean crypto market. The expansion aims to enhance regulatory capabilities, allowing the FSS to track abnormal trading patterns, detect illegal activities such as wash trading, spoofing, and pump-and-dump schemes, and protect retail investors. Previously reliant on traditional data analysis, the FSS found itself struggling to keep pace with the sheer volume and speed of crypto transactions. The new AI systems are designed to process petabytes of real-time trading data across multiple domestic exchanges. These algorithms will flag suspicious behaviors by identifying deviations from typical trading volumes and price movements, significantly reducing the time taken between detection and the initiation of formal investigations. Regulators believe this advanced surveillance infrastructure is crucial for maintaining market stability and restoring public trust following several high-profile crypto scandals.
Source: South Korean watchdog expands AI systems to track crypto manipulation
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