arXiv Machine Learning By Hugo Schnoering, Roman Bresson, Michalis Vazirgiannis

Refining Heuristic-Based Bitcoin Address Clustering with Graph Neural Networks

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The paper introduces a method to improve heuristic-based Bitcoin address clustering by using graph neural networks to generate contrastive embeddings. It releases a large Bitcoin transaction graph dataset, presents a learning framework that aligns embeddings with existing heuristics, and applies hierarchical clustering to refine clusters and detect suspicious merges. The approach offers a more modular and theoretically grounded way to analyze user-level activity on the blockchain.

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arXiv Machine Learning
Sep 24

Quality over Quantity: Semi-Supervised Detection of Illicit Bitcoin Flows via Feature Engineering

The paper presents a semi‑supervised learning framework for detecting illicit Bitcoin flows in Shared Send Mixers, using a large historical dataset of 163 million transactions. It demonstrates that the success of SSL depends on data quality rather than sheer volume, with high‑fidelity features such as KeyLinker address clustering and Shared Send Untangling complexity metrics achieving an F1 score of 0.84 on unlabeled data. The study also shows that common heuristics like One‑Time Change introduce noise, underscoring the importance of smarter feature engineering in blockchain forensics.

By Yekaterina Smolenkova, Nickolay Larionov, Nikolay Ivanov, Yury Yanovich