Tracking Mixed Bitcoins

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Mixer services purportedly remove all connections between the input (deposited) Bitcoins and the output (withdrawn) mixed Bitcoins, seemingly rendering taint analysis tracking ineffectual.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introduce a set of filtering criteria that reduce the number of false-positive results based on the characteristics of withdrawn transactions and evaluate our solution with verifiable mixing transactions of nine mixer services from previous reverse-engineering studies.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 findings show 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.
Original languageEnglish
Title of host publicationData Privacy Management, Cryptocurrencies and Blockchain Technology. DPM 2020, CBT 2020
EditorsJ. Garcia-Alfaro, G. Navarro-Arribas, J. Herrera-Joancomarti
PublisherSpringer
Pages447-457
Number of pages11
ISBN (Electronic)9783030661724
ISBN (Print)9783030661717
DOIs
Publication statusPublished - 29 Dec 2020
Event4th International Workshop on Cryptocurrencies and Blockchain Technology 2020 - Surrey, United Kingdom
Duration: 17 Sep 202018 Sep 2020
https://deic-web.uab.cat/cbt/cbt2020/

Publication series

NameLecture Notes in Computer Science
Volume12484
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Workshop

Workshop4th International Workshop on Cryptocurrencies and Blockchain Technology 2020
Abbreviated titleCBT 2020
Country/TerritoryUnited Kingdom
CitySurrey
Period17/09/2018/09/20
OtherIn conjunction with ESORICS 2020 and DPM 2020
Internet address

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