105:
Because blockchains are typically public, anyone can view the contents of transactions by querying a node or block explorer site (such as
Etherscan.io). By using common-spend clustering algorithms, it is possible to map the transactions of certain entities on the
97:
Blockchain analysis enables law enforcement to trace cryptocurrencies back to individuals wallets on exchanges, which can then be subpoenaed for information on criminal actors.
39:. The goal of blockchain analysis is to discover useful information about different actors transacting in cryptocurrency. Analysis of public blockchains such as
579:
497:
328:
459:
239:
412:
169:
Meiklejohn, Sarah; Pomarole, Marjori; Jordan, Grant; Levchenko, Kirill; McCoy, Damon; Voelker, Geoffrey M.; Savage, Stefan (23 October 2013).
304:
130:. In 2019, a major website hosting child sexual abuse material was taken down by law enforcement using blockchain analysis techniques.
580:"U.S. Attorney Announces Historic $ 3.36 Billion Cryptocurrency Seizure And Conviction In Connection With Silk Road Dark Web Fraud"
522:
387:
91:
138:
134:
523:"Chainalysis In Action: How FBI Investigators Traced DarkSide's Funds Following the Colonial Pipeline Ransomware Attack"
262:
190:
329:"Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies | FinCEN.gov"
78:
have all passed laws that require exchanges to track the source of the crypto funds. In the United States, the
279:
478:
32:
118:
Blockchain analysis has helped produce evidence in several high interest cases. In 2018, an analysis of
142:
547:
353:
146:
63:
110:. This is how criminals have been caught moving illicit funds using various cryptocurrencies.
87:
610:
437:
66:
are often required by law to address the source of funds for crypto traders. For example,
8:
393:
233:
196:
83:
52:
555:
383:
258:
221:
186:
397:
373:
365:
200:
178:
79:
496:
Bing, Christopher; Menn, Joseph; Lynch, Sarah N.; Bing, Christopher (2021-06-08).
369:
170:
20:
149:
225:
55:, Nansen, CipherTrace, Elementus, Dune Analytics, CryptoQuant, and Ormi Labs.
604:
559:
280:"Cryptocurrency Regulation: How Governments Around the World Regulate Crypto"
75:
24:
214:
Sarah, Kappos, George Yousaf, Haaroon Maller, Mary
Meiklejohn (2018-05-08).
182:
255:
Tracers in the Dark: The Global Hunt for the Crime Lords of
Cryptocurrency
48:
479:"How a Bitcoin Trail Led to a Massive Dark Web Child-Porn Site Takedown"
378:
127:
107:
36:
215:
145:
used blockchain analysis to seize over 50,000 bitcoin stolen from the
175:
Proceedings of the 2013 conference on
Internet measurement conference
67:
548:"IRS Seizes Another Silk Road Hacker's $ 3.36 Billion Bitcoin Stash"
498:"U.S. seizes $ 2.3 mln in bitcoin paid to Colonial Pipeline hackers"
436:
Alden Pelker, C.; B. Brown, Christopher; M. Tucker, Richard (2021).
122:
transactions uncovered a link between major cryptocurrency exchange
44:
168:
119:
40:
137:
used blockchain analysis to recover most of the ransom from the
113:
460:"Bitcoin Suspect Could Shed Light on Russian Mueller Targets"
435:
354:"BitIodine: Extracting Intelligence from the Bitcoin Network"
352:
Spagnuolo, Michele; Maggi, Federico; Zanero, Stefano (2014).
123:
71:
305:"Carving up crypto: Regulators begin to find their footing"
28:
442:
Department of
Justice Journal of Federal Law and Practice
438:"Using Blockchain Analysis from Investigation to Trial"
351:
413:"Startups Helping the FBI Catch Bitcoin Criminals"
302:
495:
47:is typically conducted by private companies like
602:
82:requires cryptocurrency businesses to implement
238:: CS1 maint: multiple names: authors list (
217:An Empirical Analysis of Anonymity in Zcash
114:Law enforcement and blockchain surveillance
58:
19:is the process of inspecting, identifying,
377:
252:
410:
358:Financial Cryptography and Data Security
603:
545:
360:. Lecture Notes in Computer Science.
213:
90:programs, including registering with
520:
277:
139:Colonial Pipeline ransomware attack
13:
476:
14:
622:
521:Team, Chainalysis (2022-02-10).
278:Team, Chainalysis (2021-10-26).
572:
539:
514:
489:
470:
452:
429:
404:
345:
321:
296:
271:
246:
207:
162:
35:distributed-ledger known as a
1:
411:Yakowicz, Will (2018-01-09).
177:. Imc '13. pp. 127–140.
155:
94:as a money service business.
370:10.1007/978-3-662-45472-5_29
7:
143:IRS Criminal Investigations
10:
627:
27:and visually representing
100:
303:PricewaterhouseCoopers.
253:Greenberg, Andy (2022).
135:US Department of Justice
64:Cryptocurrency exchanges
59:Cryptocurrency exchanges
183:10.1145/2504730.2504747
171:"A fistful of bitcoins"
88:anti-money laundering
150:dark web marketplace
466:. 4 September 2018.
17:Blockchain analysis
477:Newman, Lily Hay.
84:know-your-customer
546:Greenberg, Andy.
389:978-3-662-45471-8
618:
595:
594:
592:
591:
576:
570:
569:
567:
566:
543:
537:
536:
534:
533:
518:
512:
511:
509:
508:
493:
487:
486:
474:
468:
467:
456:
450:
449:
433:
427:
426:
424:
423:
408:
402:
401:
381:
349:
343:
342:
340:
339:
325:
319:
318:
316:
315:
300:
294:
293:
291:
290:
275:
269:
268:
250:
244:
243:
237:
229:
211:
205:
204:
166:
80:Bank Secrecy Act
626:
625:
621:
620:
619:
617:
616:
615:
601:
600:
599:
598:
589:
587:
584:www.justice.gov
578:
577:
573:
564:
562:
544:
540:
531:
529:
519:
515:
506:
504:
494:
490:
475:
471:
458:
457:
453:
434:
430:
421:
419:
409:
405:
390:
350:
346:
337:
335:
327:
326:
322:
313:
311:
301:
297:
288:
286:
276:
272:
265:
251:
247:
231:
230:
212:
208:
193:
167:
163:
158:
116:
103:
61:
12:
11:
5:
624:
614:
613:
597:
596:
571:
538:
513:
488:
469:
451:
428:
403:
388:
344:
333:www.fincen.gov
320:
295:
270:
264:978-0593663677
263:
245:
206:
191:
160:
159:
157:
154:
115:
112:
102:
99:
60:
57:
9:
6:
4:
3:
2:
623:
612:
609:
608:
606:
585:
581:
575:
561:
557:
553:
549:
542:
528:
524:
517:
503:
499:
492:
484:
480:
473:
465:
464:Bloomberg.com
461:
455:
447:
443:
439:
432:
418:
414:
407:
399:
395:
391:
385:
380:
375:
371:
367:
363:
359:
355:
348:
334:
330:
324:
310:
306:
299:
285:
281:
274:
266:
260:
257:. Doubleday.
256:
249:
241:
235:
227:
223:
219:
218:
210:
202:
198:
194:
192:9781450319539
188:
184:
180:
176:
172:
165:
161:
153:
151:
148:
144:
140:
136:
133:In 2021, the
131:
129:
125:
121:
111:
109:
98:
95:
93:
89:
85:
81:
77:
76:United States
73:
69:
65:
56:
54:
50:
46:
42:
38:
34:
33:cryptographic
30:
26:
22:
18:
588:. Retrieved
586:. 2022-11-07
583:
574:
563:. Retrieved
551:
541:
530:. Retrieved
526:
516:
505:. Retrieved
501:
491:
482:
472:
463:
454:
448:(3): 59–100.
445:
441:
431:
420:. Retrieved
416:
406:
379:11311/881385
361:
357:
347:
336:. Retrieved
332:
323:
312:. Retrieved
308:
298:
287:. Retrieved
283:
273:
254:
248:
216:
209:
174:
164:
132:
117:
104:
96:
62:
51:, TRM Labs,
16:
15:
611:Blockchains
527:Chainalysis
364:: 457–468.
284:Chainalysis
141:. In 2022,
49:Chainalysis
590:2023-01-05
565:2023-01-05
532:2023-01-05
507:2023-01-05
422:2019-05-29
338:2023-01-05
314:2019-05-28
289:2023-01-05
226:1106297947
156:References
128:Fancy Bear
108:blockchain
74:, and the
37:blockchain
21:clustering
560:1059-1028
234:cite book
147:Silk Road
68:Singapore
605:Category
53:Elliptic
45:Ethereum
25:modeling
502:Reuters
417:Inc.com
398:4643437
201:2224198
120:bitcoin
41:Bitcoin
558:
396:
386:
261:
224:
199:
189:
101:Method
92:FinCEN
552:Wired
483:Wired
394:S2CID
197:S2CID
124:BTC-e
72:Japan
31:on a
556:ISSN
384:ISBN
362:8437
259:ISBN
240:link
222:OCLC
187:ISBN
126:and
86:and
43:and
29:data
374:hdl
366:doi
309:PwC
179:doi
607::
582:.
554:.
550:.
525:.
500:.
481:.
462:.
446:69
444:.
440:.
415:.
392:.
382:.
372:.
356:.
331:.
307:.
282:.
236:}}
232:{{
220:.
195:.
185:.
173:.
152:.
70:,
23:,
593:.
568:.
535:.
510:.
485:.
425:.
400:.
376::
368::
341:.
317:.
292:.
267:.
242:)
228:.
203:.
181::
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.