Detection & mapping / Available now
See the accounts, connections, and evidence behind coordinated trading.
Request a demoCoordinated activity can be distributed across accounts, trading pairs, venues, and time. GammaRay brings structure-discovery AI to this wider picture, combining learned patterns with a cross-market knowledge base of trading behavior to uncover the relationships behind wash trading.
Identify coordinated multi-account structures and the recurring participants that connect them. GammaRay examines behavioral, timing, transaction-structure, and network signals together, then maps the relationships and records supporting each finding.
See the detection results
Start with the data you have. Our team assesses your available fields, market structure, and observation period, then scopes the analysis and any model adaptation required. The data and validation needs are defined for each application.
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Our research connects astrophysics, market integrity, and computational modeling. We are extending the methods behind GammaRay and exploring further applications, with evaluation tied to the evidence and requirements of each setting.
Explore our researchDetect sophisticated wash-trading patterns across complex account networks by analyzing directed trading relationships, repeated counterparties, reciprocal flows, and transaction timing in full market context. GammaRay combines these signals to reveal coordinated structures spread across multiple accounts and connect each finding to the trades and relationships behind it.
Inside the technologyIdentify coordinated illicit trading activity across markets, venues, and trading pairs by connecting account relationships, trading flows, and recurring patterns. GammaRay analyzes these connections together to uncover strategies distributed across multiple markets and trace how individual trades and accounts contribute to the wider pattern of activity.
Explore the connected-case findingsDetect wash-trading patterns in near real time as trading data is provided, shortening the time between market activity and detection. GammaRay analyzes account relationships and coordinated trading structures within the supplied data to surface suspicious patterns and connect findings to supporting activity for faster investigation.
Venues &
Examine coordinated trading, recurring participants, and the records supporting a detection. Use the connected account view to select cases for review and investigate activity across pairs, venues, and time.
Regulators &Trace account relationships across cases and inspect the source activity behind a finding. The case material preserves transaction directions, roles, trading value, and context to support further investigation.
Investors &Assess the integrity of observed trading activity within a defined market and period. Examine the concentration of identified activity and the evidence behind it as part of your market diligence.
Token issuersCommission a scoped market review of activity around a token, pair, or venue. Scoped analysis is available now.
Discuss a demonstration with our team.
GammaRay combines behavioral, timing, transaction-structure, and account-network signals with cross-market intelligence. It identifies connected account groups and links each finding to the relationships and records supporting it.
The 2026 full-evidence benchmark covers 592 cases with 2–5 accounts per case. The restricted-evidence benchmark covers 592 cases with 2–8 accounts, while the earlier cross-market evaluation includes 6,515 previously unseen cases. Each setting and its metrics are reported separately on the Research page.
We begin by assessing the available trade, transaction, order, and account records. We agree the market question, coverage, required adaptation, and validation needs before a scoped market review.
A scoped analysis delivers findings with supporting case material: account groups, transaction directions, source records, trading value, dates, confidence, roles, and market context. The outputs are agreed for your review.
Recurring accounts show connections between identified groups. Common ownership, intent, and legal conclusions require appropriate additional evidence. GammaRay’s case material distinguishes observed activity from its interpretation.
Contact our team with the market question and data you want to examine. We can discuss a relevant demonstration and, for qualified prospective buyers, access to detailed methods and sample evidence under an NDA.
