research-article

The Unique Dressing of Transactions: Wasabi CoinJoin Transaction Detection

Authors:

Tin Tironsakkul,

Mike JustAuthors Info & Claims

EICC '22: Proceedings of the 2022 European Interdisciplinary Cybersecurity Conference

Pages 21 - 28

https://doi.org/10.1145/3528580.3528585

Published: 21 July 2022 Publication History

Abstract

As Bitcoin’s blockchain allows third-party entities to track and analyse the transaction activity of Bitcoin users, external Privacy-Enhancing Technology services are created to satisfy the user demand for transaction privacy. These services are predominantly utilised as instruments in illegal activities. In this paper, we investigate one of the most prominent Privacy-Enhancing Technology services, Wasabi Wallet and its CoinJoin mixing function. We obtained Wasabi CoinJoin transactions for different time periods via published sources to observe the transaction patterns and changes in the obscuring mechanism. We propose a detection method derived from the discovered sets of transaction patterns. The results of our experiment show that the Wasabi Wallet has not substantially changed its CoinJoin mixing mechanism since the start of its operation and the majority of the Wasabi CoinJoin transactions are identifiable with significantly high precision. We also test the application of our detection method on several well-known cryptocurrency theft incidents and discover instances where the stolen Bitcoins directly reach the detected Wasabi CoinJoin Transactions.

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Cited By

O'Meara JTaneja MNicholls JKothale NFlinter SJurcut A(2024)JoinDetect: A Data-Led Machine Learning Approach to Detection of Coinjoin TransactionsProceedings of the 2024 International Conference on Information Technology for Social Good10.1145/3677525.3678633(5-13)Online publication date: 4-Sep-2024
https://dl.acm.org/doi/10.1145/3677525.3678633
Wahrstätter AErnstberger JYaish AZhou LQin KTsuchiya TSteinhorst SSvetinovic DChristin NBarczentewicz MGervais AChua TNgo CKa-Wei Lee RKumar RLauw H(2024)Blockchain CensorshipProceedings of the ACM Web Conference 202410.1145/3589334.3645431(1632-1643)Online publication date: 13-May-2024
https://dl.acm.org/doi/10.1145/3589334.3645431
Wahrstätter ASolomon MDiFrancesco BButerin VSvetinovic D(2024)BaseSAP: Modular Stealth Address Protocol for Programmable BlockchainsIEEE Transactions on Information Forensics and Security10.1109/TIFS.2024.336408119(3539-3553)Online publication date: 8-Feb-2024
https://dl.acm.org/doi/10.1109/TIFS.2024.3364081
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cover image ACM Other conferences

EICC '22: Proceedings of the 2022 European Interdisciplinary Cybersecurity Conference

June 2022

114 pages

ISBN:9781450396035

DOI:10.1145/3528580

Copyright © 2022 ACM.

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Publication History

Published: 21 July 2022

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EICC 2022

EICC 2022: European Interdisciplinary Cybersecurity Conference

June 15 - 16, 2022

Barcelona, Spain

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Cited By

O'Meara JTaneja MNicholls JKothale NFlinter SJurcut A(2024)JoinDetect: A Data-Led Machine Learning Approach to Detection of Coinjoin TransactionsProceedings of the 2024 International Conference on Information Technology for Social Good10.1145/3677525.3678633(5-13)Online publication date: 4-Sep-2024
https://dl.acm.org/doi/10.1145/3677525.3678633
Wahrstätter AErnstberger JYaish AZhou LQin KTsuchiya TSteinhorst SSvetinovic DChristin NBarczentewicz MGervais AChua TNgo CKa-Wei Lee RKumar RLauw H(2024)Blockchain CensorshipProceedings of the ACM Web Conference 202410.1145/3589334.3645431(1632-1643)Online publication date: 13-May-2024
https://dl.acm.org/doi/10.1145/3589334.3645431
Wahrstätter ASolomon MDiFrancesco BButerin VSvetinovic D(2024)BaseSAP: Modular Stealth Address Protocol for Programmable BlockchainsIEEE Transactions on Information Forensics and Security10.1109/TIFS.2024.336408119(3539-3553)Online publication date: 8-Feb-2024
https://dl.acm.org/doi/10.1109/TIFS.2024.3364081
Wahrstätter AGomes JKhan SSvetinovic D(2023)Improving Cryptocurrency Crime Detection: CoinJoin Community Detection ApproachIEEE Transactions on Dependable and Secure Computing10.1109/TDSC.2023.323841220:6(4946-4956)Online publication date: 1-Nov-2023
https://dl.acm.org/doi/10.1109/TDSC.2023.3238412
Nosov VManzhai OPanchenko Y(2022)Analysis of Ethereum transactions during the prevention and investigation of criminal offensesLaw and Safety10.32631/pb.2022.4.0987:4(108-124)Online publication date: 21-Dec-2022
https://doi.org/10.32631/pb.2022.4.09

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