Blockchain analysis includes clustering crypto addresses to wallets and expanding investigations by tracking
transactions on public ledgers. Clustering is defined as grouping together crypto addresses belonging to the
same wallet, owned by the same person or service, regardless of whether the person or service behind the
cluster is known or tagged. Once clustering is performed, financial investigators can track the movement of
funds from one wallet to another, rather than from one address to another, which allows them to identify the
overall transferred amounts and activity picture, making the tracing process more efficient.
Clustering is achieved using a variety of heuristics, primarily identification of "common spend" transactions –
transactions with more than one input address. Since normally only one entity can sign a crypto transaction,
common spend transactions indicate that all the input addresses of that transaction are associated with the
same wallet.
Clustering
Blockchain Analytics