Phishing Scam Detection on Ethereum: Towards Financial Security for Blockchain Ecosystem

Phishing Scam Detection on Ethereum: Towards Financial Security for Blockchain Ecosystem

Weili Chen, Xiongfeng Guo, Zhiguang Chen, Zibin Zheng, Yutong Lu

Proceedings of the Twenty-Ninth International Joint Conference on Artificial Intelligence
Special Track on AI in FinTech. Pages 4506-4512. https://doi.org/10.24963/ijcai.2020/621

In recent years, blockchain technology has created a new cryptocurrency world and has attracted a lot of attention. It also is rampant with various scams. For example, phishing scams have grabbed a lot of money and has become an important threat to users' financial security in the blockchain ecosystem. To help deal with this issue, this paper proposes a systematic approach to detect phishing accounts based on blockchain transactions and take Ethereum as an example to verify its effectiveness. Specifically, we propose a graph-based cascade feature extraction method based on transaction records and a lightGBM-based Dual-sampling Ensemble algorithm to build the identification model. Extensive experiments show that the proposed algorithm can effectively identify phishing scams.
Keywords:
AI for risk and security: AI for financial security
AI for banking: AI for cryptocurrencies
AI for banking: AI for digital currencies