Analysis of Bitcoin Exchange Using Relationship of Transactions and Addresses

Abstract

This bitcoin system is a system made to support transactions between users without the help of any financial institution. The Bitcoin Exchange is a service that enables exchanges of bitcoins mined by others with cash. To use this service, the miner should send bitcoins from his bitcoin wallet to the deposit address provided by the Exchange. The bitcoins delivered to the deposit address are automatically moved to one of the Exchange's bitcoin addresses by the Exchange system. Since what is known to the user is only the deposit address for the user, the user can only guess that the Exchange has taken the bitcoins from his deposit address when he/she sees the transfer of his/her bitcoins to another address. We will present a method to find out a few bitcoin addresses through preliminary work and find out the associated Exchange addresses using the characteristics of the deposit addresses and system addresses of the Exchange through transactions with the relevant addresses on the blockchain.