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Author McCoy, Damon ♦ Meiklejohn, Sarah ♦ Voelker, Geoffrey M. ♦ Savage, Stefan ♦ Pomarole, Marjori ♦ Levchenko, Kirill ♦ Jordan, Grant
Source ACM Digital Library
Content type Text
Publisher Association for Computing Machinery (ACM)
File Format PDF
Language English
Abstract Bitcoin is a purely online virtual currency, unbacked by either physical commodities or sovereign obligation; instead, it relies on a combination of cryptographic protection and a peer-to-peer protocol for witnessing settlements. Consequently, Bitcoin has the unintuitive property that while the ownership of money is implicitly anonymous, its flow is globally visible. In this paper we explore this unique characteristic further, using heuristic clustering to group Bitcoin wallets based on evidence of shared authority, and then using re-identification attacks (i.e., empirical purchasing of goods and services) to classify the operators of those clusters. From this analysis, we consider the challenges for those seeking to use Bitcoin for criminal or fraudulent purposes at scale.
Description Affiliation: ICSI, Berkeley, CA (McCoy, Damon) || Facebook, London, U.K. (Pomarole, Marjori) || UC San Diego, La Jolla, CA (Jordan, Grant; Levchenko, Kirill; Voelker, Geoffrey M.; Savage, Stefan) || University College London, London, U.K. (Meiklejohn, Sarah)
Age Range 18 to 22 years ♦ above 22 year
Educational Use Research
Education Level UG and PG
Learning Resource Type Article
Publisher Date 2005-08-01
Publisher Place New York
Journal Communications of the ACM (CACM)
Volume Number 59
Issue Number 4
Page Count 8
Starting Page 86
Ending Page 93


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Source: ACM Digital Library