Tracking Mixed Bitcoins

09/29/2020
by   Tin Tironsakkul, et al.
0

Mixer services purportedly remove all connections between the input (deposited) Bitcoins and the output (withdrawn) mixed Bitcoins, seemingly rendering taint analysis tracking ineffectual. In this paper, we introduce and explore a novel tracking strategy, called Address Taint Analysis, that adapts from existing transaction-based taint analysis techniques for tracking Bitcoins that have passed through a mixer service. We also investigate the potential of combining address taint analysis with address clustering and backward tainting. We further introduce a set of filtering criteria that reduce the number of false-positive results based on the characteristics of withdrawn transactions and evaluate our solution with verifiable mixing transactions of nine mixer services from previous reverse-engineering studies. Our finding shows that it is possible to track the mixed Bitcoins from the deposited Bitcoins using address taint analysis and the number of potential transaction outputs can be significantly reduced with the filtering criteria.

READ FULL TEXT

page 1

page 2

page 3

page 4

research
03/17/2021

A Novel Framework for the Analysis of Unknown Transactions in Bitcoin: Theory, Model, and Experimental Results

Bitcoin (BTC) is probably the most transparent payment network in the wo...
research
07/31/2017

Debugging Transactions and Tracking their Provenance with Reenactment

Debugging transactions and understanding their execution are of immense ...
research
06/13/2019

Probing the Mystery of Cryptocurrency Theft: An Investigation into Methods for Cryptocurrency Tainting Analysis

Since the first theft of the Mt.Gox exchange service in 2011, Bitcoin ha...
research
01/15/2022

Transaction Tracking on Blockchain Trading Systems using Personalized PageRank

Due to the pseudonymous nature of blockchain, various cryptocurrency sys...
research
05/03/2022

Reality-based UTXO Ledger

The Unspent Transaction Output (UTXO) model is commonly used in the fiel...
research
12/06/2018

An Empirical Analysis of Monero Cross-Chain Traceability

Monero is a privacy-centric cryptocurrency that makes payments untraceab...
research
09/18/2021

Regular Sequential Serializability and Regular Sequential Consistency

Strictly serializable (linearizable) services appear to execute transact...

Please sign up or login with your details

Forgot password? Click here to reset