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Efficient and Reliable Service Detection on Bitcoin
Jacquot, Vincent; Hammad, Nada; Donnet, Benoît
2024In IEEE International Conference on Blockchain and Cryptocurrency (ICBC)
Peer reviewed
 

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Keywords :
blockchain; bitcoin; PEKET; NSS; clustering
Abstract :
[en] The rise of cryptocurrencies has created new avenues for criminal money exchanges. Among various techniques, Bitcoin address clustering plays a crucial role in detecting and grouping addresses owned by the same entity. This fundamental step is essential for deanonymizing addresses and analyzing the flow of funds in the blockchain. This advancement contributes to the battle against illicit commerce, money laundering, fraud, scams, and similar activities. In this paper, we introduce two new heuristics, NSS and PEKET. NSS leverages Bitcoin non-standard scripts, while PEKET exploits the re-use of public keys to establish connections controlled by the same entity. Our contributions encompass (i) the detailed explanation of these two novel methods; (ii) the open-source publication of the tools we developed; and, (iii) the assessment of these heuristics using a proprietary extensive dataset of labeled addresses, which achieve precision levels of 1.0 and 0.979 respectively.
Disciplines :
Computer science
Author, co-author :
Jacquot, Vincent ;  Université de Liège - ULiège > Département d'électricité, électronique et informatique (Institut Montefiore) > Algorithmique des grands systèmes
Hammad, Nada
Donnet, Benoît  ;  Université de Liège - ULiège > Département d'électricité, électronique et informatique (Institut Montefiore) > Algorithmique des grands systèmes
Language :
English
Title :
Efficient and Reliable Service Detection on Bitcoin
Publication date :
27 May 2024
Event name :
IEEE International Conference on Blockchain and Cryptocurrency (ICBC)
Event date :
27-31 Mai 2024
Audience :
International
Main work title :
IEEE International Conference on Blockchain and Cryptocurrency (ICBC)
Publisher :
IEEE
Peer reviewed :
Peer reviewed
Name of the research project :
CyberExcellence
Available on ORBi :
since 19 March 2024

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