The research behind the risk signals.
The founder's published work measures how crypto fraud operates: how pump-and-dump groups pick targets, how scams move money, why exchanges fail. Each finding below is a signal a product can score.
Three findings, three products
Pump-and-dump schemes
Pump-and-dump groups pick thinly traded tokens and announce a target to their members at a set time. Token Sentinel is designed to score those conditions on new listings.
- The Economics of Cryptocurrency Pump and Dump Schemes (WEIS, 2019)
- Analyzing Target-Based Cryptocurrency Pump and Dump Schemes (ACM CCS Workshop on DeFi and Security, 2021)
Crypto-enabled cybercrime
Cybercrime that uses cryptocurrency links an off-chain lure, such as a scam website, to an on-chain destination. ScamShield and Investigate are being built around that link.
- Unicorns in the Wild West: Empirical Analysis of Cybercrime Facilitated by Cryptocurrencies (APWG eCrime, 2025)
Exchange and stablecoin risk
Exchange closures and failed crypto ventures leave customers and counterparties exposed. This line of research isn't tied to a product yet.
Future work
- Cryptocurrency Exchange Closure Revisited (Again) (APWG eCrime, 2022)
- Beyond the Hype: Empirical Evaluation of Cryptocurrency Unicorn Success (HICSS, 2025)
Publications
- 2025Unicorns in the Wild West: Empirical Analysis of Cybercrime Facilitated by Cryptocurrencies
Arghya Mukherjee and Tyler Moore. APWG eCrime.
- 2025Beyond the Hype: Empirical Evaluation of Cryptocurrency Unicorn Success
Arghya Mukherjee and Tyler Moore. HICSS.
- 2022Cryptocurrency Exchange Closure Revisited (Again)
Arghya Mukherjee and Tyler Moore. APWG eCrime.
- 2021Analyzing Target-Based Cryptocurrency Pump and Dump Schemes
J.T. Hamrick, Farhang Rouhi, Arghya Mukherjee, Marie Vasek, Tyler Moore, Neil Gandal. ACM CCS Workshop on DeFi and Security.
- 2019The Economics of Cryptocurrency Pump and Dump Schemes
J.T. Hamrick, Farhang Rouhi, Arghya Mukherjee, Amir Feder, Neil Gandal, Tyler Moore, Marie Vasek. WEIS.
Related work from the University of Tulsa research group
- 2025Spot to the Future Attacks on Cryptocurrency Derivative Markets
Andrew Morin, Tyler Moore. WEIS.
- 2022Breaking the Stablecoin Buck: Measuring the Impact of Security Breach and Liquidation Shocks
Andrew Morin, Tyler Moore, Eric Olson. WEIS.
The people behind this work are on the About page.
Early access is open to a small number of compliance and fraud teams.
Researchers who want to collaborate can use the same form.