Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem
Proceedings of the 13th International Conference on Information Technology and Its Applications (CITA 2024); pp: 198-209
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Vietnam-Korea University of Information and Communication Technology
2024
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oai:elib.vku.udn.vn:123456789-40332024-07-31T02:22:02Z Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem Shin, Mijin Yoo, Minjung Choi, Yiseul Lee, Eunbeen Jung, Yunyoung Park, Wonhyung Kim, Seongmin Cryptocurrency Bitcoin Tracking Chainalysis Reactor Proceedings of the 13th International Conference on Information Technology and Its Applications (CITA 2024); pp: 198-209 Cryptocurrency has gained grand attention as a key to developing online financial services and e-commerce for a decade. However, representative cryptocurrencies, such as Bitcoin and Ethereum, have recently become the main currencies in the Dark Web black market for illegal trade, fraud, and funds theft through ransomware by exploiting its anonymity. Moreover, mixers and decentralized exchanges for exchanging tokens to conceal their origin make it challenging to identify the initial funds. To this end, we aim to extract distinct and unique patterns related to cryptocurrency laundering from a criminal behavioral perspective by schematizing the relationship and status between the wallet addresses and corresponding transactions in real-world crime examples. Based on case studies to track ransomware payments using cryptocurrency, we demonstrate that our proposed heuristic approach contributes to uncovering cryptocurrency laundering from the given transaction graph, including both reported crime and non-custodial wallets. 2024-07-31T02:21:59Z 2024-07-31T02:21:59Z 2024-07 Working Paper 978-604-80-9774-5 https://elib.vku.udn.vn/handle/123456789/4033 en CITA; application/pdf Vietnam-Korea University of Information and Communication Technology |
| institution |
Trường Đại học Công nghệ Thông tin và Truyền thông Việt Hàn - Đại học Đà Nẵng |
| collection |
DSpace |
| language |
English |
| topic |
Cryptocurrency Bitcoin Tracking Chainalysis Reactor |
| spellingShingle |
Cryptocurrency Bitcoin Tracking Chainalysis Reactor Shin, Mijin Yoo, Minjung Choi, Yiseul Lee, Eunbeen Jung, Yunyoung Park, Wonhyung Kim, Seongmin Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem |
| description |
Proceedings of the 13th International Conference on Information Technology and Its Applications (CITA 2024); pp: 198-209 |
| format |
Working Paper |
| author |
Shin, Mijin Yoo, Minjung Choi, Yiseul Lee, Eunbeen Jung, Yunyoung Park, Wonhyung Kim, Seongmin |
| author_facet |
Shin, Mijin Yoo, Minjung Choi, Yiseul Lee, Eunbeen Jung, Yunyoung Park, Wonhyung Kim, Seongmin |
| author_sort |
Shin, Mijin |
| title |
Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem |
| title_short |
Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem |
| title_full |
Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem |
| title_fullStr |
Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem |
| title_full_unstemmed |
Empirical Analysis of Ransomware Payment Tracking using Chainalysis Reactor in the Bitcoin Ecosystem |
| title_sort |
empirical analysis of ransomware payment tracking using chainalysis reactor in the bitcoin ecosystem |
| publisher |
Vietnam-Korea University of Information and Communication Technology |
| publishDate |
2024 |
| url |
https://elib.vku.udn.vn/handle/123456789/4033 |
| _version_ |
1849197235910213632 |