Can You Mix It? An Analysis of Bitcoin Mixers

Description
Third-party mixers are used to heighten the anonymity of Bitcoin users. The mixing techniques implemented by these tools are often untraceable on the blockchain, making them appealing to money launderers. This research aims to analyze mixers currently available on the…

Third-party mixers are used to heighten the anonymity of Bitcoin users. The mixing techniques implemented by these tools are often untraceable on the blockchain, making them appealing to money launderers. This research aims to analyze mixers currently available on the deep web. In addition, an in-depth case study is done on an open-source bitcoin mixer known as Penguin Mixer. A local version of Penguin Mixer was used to visualize mixer behavior under specific scenarios. This study could lead to the identification of vulnerabilities in mixing tools and detection of these tools on the blockchain.

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Details

Contributors
Date Created
2018-12
Resource Type
Language
  • eng
Additional Information
Series
  • Academic Year 2018-2019
Extent
  • 32 pages