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As the first decentralized peer-to-peer (P2P) cryptocurrency system allowing people to trade with pseudonymous addresses, Bitcoin has become increasingly popular in recent years. However, the P2P and pseudonymous nature of Bitcoin make…

Social and Information Networks · Computer Science 2022-01-20 Jiajing Wu , Jieli Liu , Weili Chen , Huawei Huang , Zibin Zheng , Yan Zhang

Mixer services purportedly remove all connections between the input (deposited) Bitcoins and the output (withdrawn) mixed Bitcoins, seemingly rendering taint analysis tracking ineffectual.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…

Cryptography and Security · Computer Science 2020-11-02 Tin Tironsakkul , Manuel Maarek , Andrea Eross , Mike Just

One reason for the popularity of Bitcoin is due to its anonymity. Although several heuristics have been used to break the anonymity, new approaches are proposed to enhance its anonymity at the same time. One of them is the mixing service.…

Cryptography and Security · Computer Science 2021-03-03 Lei Wu , Yufeng Hu , Yajin Zhou , Haoyu Wang , Xiaopu Luo , Zhi Wang , Fan Zhang , Kui Ren

Bitcoin is a digital currency which relies on a distributed set of miners to mint coins and on a peer-to-peer network to broadcast transactions. The identities of Bitcoin users are hidden behind pseudonyms (public keys) which are…

Cryptography and Security · Computer Science 2014-07-08 Alex Biryukov , Dmitry Khovratovich , Ivan Pustogarov

Cryptocurrency users increasingly rely on obfuscation techniques such as mixers, swappers, and decentralised or no-KYC exchanges to protect their anonymity. However, at the same time, these services are exploited by criminals to conceal and…

Cryptography and Security · Computer Science 2025-04-17 Francesco Zola , Jon Ander Medina , Andrea Venturi , Raul Orduna

Bitcoin is by far the most popular crypto-currency solution enabling peer-to-peer payments. Despite some studies highlighting the network does not provide full anonymity, it is still being heavily used for a wide variety of dubious…

Social and Information Networks · Computer Science 2019-12-30 Yining Hu , Suranga Seneviratne , Kanchana Thilakarathna , Kensuke Fukuda , Aruna Seneviratne

The Bitcoin system is an anonymous, decentralized crypto-currency. There are some deanonymizating techniques to cluster Bitcoin addresses and to map them to users' identifications in the two research directions of Analysis of Transaction…

Cryptography and Security · Computer Science 2015-10-28 QingChun ShenTu , JianPing Yu

Since the creation of Bitcoin, transaction tracking is one of the prominent means for following the movement of Bitcoins involved in illegal activities. Although every Bitcoin transaction is recorded in the blockchain database, which is…

Cryptography and Security · Computer Science 2019-12-06 Tin Tironsakkul , Manuel Maarek , Andrea Eross , Mike Just

Blockchain technologies have overturned the digital finance industry by introducing a decentralized pseudonymous means of monetary transfer. The pseudonymous nature introduced privacy concerns, enabling various deanonymization techniques,…

Cryptography and Security · Computer Science 2025-04-30 Juraj Mariani , Ivan Homoliak

Bitcoin is a cryptocurrency that features a distributed, decentralized and trustworthy mechanism, which has made Bitcoin a popular global transaction platform. The transaction efficiency among nations and the privacy benefiting from address…

Cryptography and Security · Computer Science 2019-03-20 Yu-Jing Lin , Po-Wei Wu , Cheng-Han Hsu , I-Ping Tu , Shih-wei Liao

Bitcoin is a cryptocurrency attracting a lot of interest both from the general public and researchers. There is an ongoing debate on the question of users' anonymity: while the Bitcoin protocol has been designed to ensure that the activity…

Cryptography and Security · Computer Science 2019-06-14 Remy Cazabet , Baccour Rym , Latapy Matthieu , Cazabet Remy

Bitcoin is one of the decentralized cryptocurrencies powered by a peer-to-peer blockchain network. Parties who trade in the bitcoin network are not required to disclose any personal information. Such property of anonymity, however,…

Cryptography and Security · Computer Science 2022-11-29 Zhengjie Huang , Yunyang Huang , Peng Qian , Jianhai Chen , Qinming He

Privacy protection mechanisms are a fundamental aspect of security in cryptocurrency systems, particularly in decentralized networks such as Bitcoin. Although Bitcoin addresses are not directly associated with real-world identities, this…

Cryptography and Security · Computer Science 2026-03-19 Shihan Zhang , Bing Han , Chuanyong Tian , Ruisheng Shi , Lina Lan , Qin Wang

The rise of cryptocurrencies like Bitcoin, which enable transactions with a degree of pseudonymity, has led to a surge in various illicit activities, including ransomware payments and transactions on darknet markets. These illegal…

Cryptography and Security · Computer Science 2023-06-16 Poupak Azad , Baris Coskunuzer , Murat Kantarcioglu , Cuneyt Gurcan Akcora

Bitcoin is a decentralized, pseudonymous cryptocurrency that is one of the most used digital assets to date. Its unregulated nature and inherent anonymity of users have led to a dramatic increase in its use for illicit activities. This…

Cryptography and Security · Computer Science 2019-10-16 Francesco Zola , Maria Eguimendia , Jan Lukas Bruse , Raul Orduna Urrutia

Every year, criminals launder billions of dollars acquired from serious felonies (e.g., terrorism, drug smuggling, or human trafficking) harming countless people and economies. Cryptocurrencies, in particular, have developed as a haven for…

Machine Learning · Computer Science 2021-10-06 Joana Lorenz , Maria Inês Silva , David Aparício , João Tiago Ascensão , Pedro Bizarro

Bitcoin is a popular alternative to fiat money, widely used for its perceived anonymity properties. However, recent attacks on Bitcoin's peer-to-peer (P2P) network demonstrated that its gossip-based flooding protocols, which are used to…

Cryptography and Security · Computer Science 2017-03-28 Giulia Fanti , Pramod Viswanath

Bitcoin is a digital currency and electronic payment system operating over a peer-to-peer network on the Internet. One of its most important properties is the high level of anonymity it provides for its users. The users are identified by…

Applications · Statistics 2019-04-12 Péter L. Juhász , József Stéger , Dániel Kondor , Gábor Vattay

Cryptocurrencies typically aim at preserving the privacy of their users. Different cryptocurrencies preserve privacy at various levels, some of them requiring users to rely on strategies to raise the privacy level to their needs. Among…

Cryptography and Security · Computer Science 2021-01-05 Jefferson E. Simoes , Eduardo Ferreira , Daniel S. Menasche , Carlos A. V. Campos

Little or no research has been directed to analysis and researching forensic analysis of the Bitcoin mixing or 'tumbling' service themselves. This work is intended to examine effective tooling and methodology for recovering forensic…

Cryptography and Security · Computer Science 2021-10-06 Edward Henry Young , Christos Chrysoulas , Nikolaos Pitropakis , Pavlos Papadopoulos , William J Buchanan
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