The Algorithm That Detected a $610 Billion Fraud: How Machine Intelligence Exposed the AI Industry’s Circular Financing Scheme

On November 20, 2025, trading algorithms identified what may become the largest accounting fraud in technology history—not in months or years, but in 18 hours. This is the story of how artificial intelligence discovered that the AI boom itself was built on phantom revenue.

By Shanaka Anslem Perera | November 21, 2025

At precisely 4:00 PM Eastern Time on N…