Bird.Money Democratizes Access to Cutting-edge Risk Prediction Technology for the Everyday Crypto User
Say Goodbye to Risky Crypto Transactions
The adoption of cryptocurrency as the superior means of transferring value between people and businesses has not been a road paved with gold and roses. The unidirectional nature of crypto transactions has always meant that users take inordinate risks of permanently losing their virtual assets whenever they interact with other wallets and platforms.
This meant that every time someone makes a transaction, they ought to conduct multiple manual checks on the wallet address they are pasting for such transactions, the URL of the site they got such addresses, and other due diligence measures. All of this, more often than not, comes short of providing the adequate protection against fraud that cryptocurrency transactions need.
From fraudulent coin issuance websites, to fake charitable programs and even clone CEX websites, both long-term crypto adopters and newbies are faced every day with the dangers of losing some or all of their digital asset holdings. It’s high time for a solution to this fundamental problem of trust in the crypto ecosystems.
Welcome to the World of Secure and Efficient Crypto Transactions
Bird.Money is thrilled to announce its first in an ongoing suite of go-to-market products, our Crypto Transaction Risk Flagging Tool. Keeping our promise to develop fast and deliver hard, we are happy to share the development of what will be the foundation for future predictive security tools.
We leveraged OpenAI’s groundbreaking LLM-powered classification technology to supercharge our in-house efforts to create a one-of-a-kind security prediction tool for all blockchain users. To build a powerful and accurate user classification model for detecting fraudulent and non-fraudulent crypto wallets, the Bird Nest conducted extensive analyses of a wide range of risk indicators.
The team collected data points such as
- the average minimum of sent transactions.
- the average minimum of received transactions.
- the time difference between the first and last transaction.
- wallet interaction with blacklisted addresses.
- wallet interaction with privacy enhancement technologies.
- and the total number of transactions, to name a few.
We sifted through these data to fine-tune and build a risk prediction model that is capable of accurately determining the risk level of any particular crypto wallet. This model is based on the same principles used by large crypto exchanges to analyze wallet risks before allowing crypto transfers. We are making our model available to BIRD holders for free, while exchanges often charge large sums of money to web3 security companies for similar risk prediction tools. What this means is that any BIRD holder can have access to this cutting-edge risk mitigator with their non-custodial wallet without having to risk their funds on risk-prone centralized exchanges.
Our model adopts an accessible results framework with 0 for non-fraudulent wallets and 1 for fraudulent ones, giving everyday crypto users an easy-to-understand interface to stay safe before settling transactions.
We are finalizing work to bring you, our loyal Bird Flock, the demo so that you become the first to experience what will be a redefining tool that will infinitely boost consumer confidence in cryptocurrency transaction safety and usher a new dawn of trust in the safety of crypto transactions.
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