Anonymization Technologies of Cryptocurrency Transactions as Money Laundering Instrument

Authors

  • Goriacheva A. National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Kashirskoe shosse 31, Moscow, 115409
  • Jakubenko N. National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Kashirskoe shosse 31, Moscow, 115409
  • Pogodina O. National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Kashirskoe shosse 31, Moscow, 115409
  • Silnov D. National Research Nuclear University MEPhI (Moscow Engineering Physics Institute), Kashirskoe shosse 31, Moscow, 115409

DOI:

https://doi.org/10.18502/kss.v3i2.1523

Abstract

This article is devoted to the exploration of services of anonymizing transactions, based on the Mixer, CoinJoin and CoinSuffle technologies, as well as to the description of the core principles of operation of these technologies and technical details. It analyzes the advantages and disadvantages of different realizations of this service. It formulates the problem of cryptocurrency laundering through anonymization services and offers solutions to this problem.

Keywords: cryptocurrency, blockchain, bitcoin, mixing service, mining, money laundering.

References

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Mixer.Money: Bitcoin Mixing Service. Available at: https://mixer.money

Laurence Tennant. Improving the Anonymity of the IOTA Cryptocurrency. October 2017. Available at: http://iotafeed.com/wp-content/uploads/2017/08/anonymity- iota.pdf

Concide.ru: Information web site about cryptocurrency Bitcoin. Available at: https://www.coinside.ru/2014/10/13/coinjoin-i-coinshuffle-borba-s- psevdonimnostyu/

CrypSys: CoinShuffle: Practical Decentralized Coin Mixing for Bitcoin Tim Ruffing, Pedro Moreno-Sanchez, and Aniket Kate. Available at: http://crypsys.mmci.uni- saarland.de/projects/CoinShuffle/

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Downloads

Published

2018-02-15

How to Cite

A., G., N., J., O., P., & D., S. (2018). Anonymization Technologies of Cryptocurrency Transactions as Money Laundering Instrument. KnE Social Sciences, 3(2), 46–53. https://doi.org/10.18502/kss.v3i2.1523

Issue

III Network AML/CFT Institute International Scientific and Research Conference "FinTech and RegTech"

Section

Articles