Scams and Solutions in Cryptocurrencies—A Survey Analyzing Existing Machine Learning Models

With the emergence of cryptocurrencies and Blockchain technology, financial sector is turning its gaze toward this latest wave. The use becoming very common for multiple services. Food chains, network service providers, tech companies, grocery stores, so many other services accept cryptocurrency as a mode payment give several incentives people who pay using them. Despite tremendous success, have opened door to fraudulent activities such Ponzi schemes, HYIPs (high-yield investment programs), money laundering, much more, which has led loss millions dollars. Over decade, solutions machine learning algorithms been proposed detect these felonious activities. objective paper survey models, datasets used, underlying technology. This study will identify highly efficient evaluate their performances, compile extracted features, can serve benchmark future research. Fraudulent characteristics exposed in survey. We identified gaps existing models propose improvement ideas that scams early.