What The Blockchain Tells Us About The Activities And Operational Security Of Online Offenders

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Bitcoin is a virtual currency that was launched in 2009. The currency has been adopted by millions of people and its marketcap has grown to $12 billion USD. Bitcoin has been praised for its transparency as all bitcoin transactions are collated in a centralized ledger that can be accessed by anyone at any given time. Bitcoin has at the same time also been criticized for not requiring to link personal identifiable information to specific bitcoins. This feature has transformed bitcoin into a popular currency for offenders who use it to receive payments for the illicit goods and services they provide. This research will analyze the flows of bitcoins going into and out of online illicit markets to determine where these bitcoins are coming from and where they end up being spent. Behavioral analyses will seek to identify patterns in the blockchain to automatically label the type of activity a bitcoin wallet is used for.

This content has been updated on 2 March 2017 at 23 h 49 min.