Publication Type

Conference Proceeding Article

Version

publishedVersion

Publication Date

4-2023

Abstract

With the growing popularity of Non-Fungible Tokens (NFT), a new type of digital assets, various fraudulent activities have appeared in NFT markets. Among them, wash trading has become one of the most common frauds in NFT markets, which attempts to mislead investors by creating fake trading volumes. Due to the sophisticated patterns of wash trading, only a subset of them can be detected by automatic algorithms, and manual inspection is usually required. We propose NFTDisk, a novel visualization for investors to identify wash trading activities in NFT markets, where two linked visualization modules are presented: a radial visualization module with a disk metaphor to overview NFT transactions and a flow-based visualization module to reveal detailed NFT flows at multiple levels. We conduct two case studies and an in-depth user interview with 14 NFT investors to evaluate NFTDisk. The results demonstrate its effectiveness in exploring wash trading activities in NFT markets.

Keywords

Automatic algorithms, Digital assets, Manual inspection, Non-fungible token, Novel visualizations, Trading volumes, Visual analytics, Visual detection, Visualization modules, Wash trading

Discipline

Databases and Information Systems | Digital Communications and Networking | Theory and Algorithms

Research Areas

Information Systems and Management

Publication

Proceedings of the 2023 ACM CHI Conference on Human Factors in Computing Systems, Hamburg, Germany, April 23-28

ISBN

9781450394215

Identifier

10.1145/3544548.3581466

Publisher

ACM

City or Country

New York

Additional URL

https://doi.org/10.1145/3544548.3581466

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