TY - GEN
T1 - A practical de-mixing algorithm for bitcoin mixing services
AU - Hong, Younggee
AU - Kwon, Hyunsoo
AU - Lee, Jihwan
AU - Hur, Junbeom
N1 - Funding Information:
This work was supported by Institute for Information & communications Technology Promotion(IITP) grant funded by the Korea government(MSIT) (No.2017-0-00395, Information management system for dark web scanning). This work was also supported by the National Research Foundation of Korea (NRF) grant funded by the Korea government (MSIP) (No.2016R1A2A2A05005402).
Publisher Copyright:
© 2018 Association for Computing Machinery.
PY - 2018/5/22
Y1 - 2018/5/22
N2 - Bitcoin mixing services improve anonymity by breaking the connection between Bitcoin addresses. In the darkweb environment, many illegal trades, such as in drugs or child pornography, avoid their transactions being traced by exploiting mixing services. Therefore, de-mixing algorithms are needed to identify illegal financial flows and to reduce criminal activity. Unfortunately, to the best of our knowledge, few studies on analyzing mixing services and de-anonymizing transactions have been proposed. In this paper, we conduct an in-depth analysis of real-world mixing services, and propose a de-mixing algorithm for Helix, one of the most widely used Bitcoin mixing services. The proposed algorithm de-anonymizes the relationship between the input and output addresses of mixing services by exploiting the static and dynamic parameters of mixing services. Our experiment showed that, we could identify the relationships between the input and output addresses of the Helix mixing service with a 99.14% accuracy rate.
AB - Bitcoin mixing services improve anonymity by breaking the connection between Bitcoin addresses. In the darkweb environment, many illegal trades, such as in drugs or child pornography, avoid their transactions being traced by exploiting mixing services. Therefore, de-mixing algorithms are needed to identify illegal financial flows and to reduce criminal activity. Unfortunately, to the best of our knowledge, few studies on analyzing mixing services and de-anonymizing transactions have been proposed. In this paper, we conduct an in-depth analysis of real-world mixing services, and propose a de-mixing algorithm for Helix, one of the most widely used Bitcoin mixing services. The proposed algorithm de-anonymizes the relationship between the input and output addresses of mixing services by exploiting the static and dynamic parameters of mixing services. Our experiment showed that, we could identify the relationships between the input and output addresses of the Helix mixing service with a 99.14% accuracy rate.
KW - Bitcoin
KW - Blockchain analysis
KW - Helix
KW - Mixing service
UR - http://www.scopus.com/inward/record.url?scp=85049388389&partnerID=8YFLogxK
U2 - 10.1145/3205230.3205234
DO - 10.1145/3205230.3205234
M3 - Conference contribution
AN - SCOPUS:85049388389
T3 - BCC 2018 - Proceedings of the 2nd ACM Workshop on Blockchains, Cryptocurrencies, and Contracts, Co-located with ASIA CCS 2018
SP - 15
EP - 20
BT - BCC 2018 - Proceedings of the 2nd ACM Workshop on Blockchains, Cryptocurrencies, and Contracts, Co-located with ASIA CCS 2018
PB - Association for Computing Machinery, Inc
T2 - 2nd ACM Workshop on Blockchains, Cryptocurrencies, and Contracts, BCC 2018
Y2 - 4 June 2018
ER -
