AnChain .AI, a blockchain APT hacker group that provides AI-powered blockchain ecosystem security, according to CBInsights, released a report showing that the equivalent of $6 million in transaction volume was driven by rampant, malicious bot activity on Dapps in the first quarter of 2019.
The report — the largest-scale study of malicious bots in the EOS ecosystem — also found 51 percent of unique accounts and 75 percent of total transactions were driven by non-human accounts. Bot activity threatens the integrity of the blockchain industry, as user activity, transaction volume, and daily volume are among the most frequently called-upon metrics for determining technological validity, and precisely what is being faked, said Victor Fang, CEO of AnChain.
AnChain is backed by Amino Capital, a Palo Alto VC firm, and has 15 employees.
The study examined millions of transactions from the top 10 EOS blockchain gambling Dapp platforms — which represent 65% of all EOS Dapp transaction volume — to monitor performance and detect suspicious activity. Using artificial intelligence, AnChain was able to root out repetitive or hyperactive accounts to determine that they were malicious bots.