Elliptic collaborates with IBM Watson and MIT to enhance anti-money laundering efforts using AI on the Bitcoin blockchain.

Their AI model, trained on nearly 200 million Bitcoin transactions, detected 52 potential money laundering subgraphs.

Out of the detected subgraphs, 14 have been confirmed to be associated with possible money laundering activities.

The AI technology has revealed new illicit wallets and complex patterns like peeling chains, previously unknown to experts.

This advancement arrives as blockchain security firms encounter substantial losses due to increasing digital asset crimes.

The success of Elliptic's AI model underscores the growing need for sophisticated measures to tackle illegal transactions in the cryptocurrency market.