Seunghyeon Lee (KAIST, S2W LAB Inc.), Changhoon Yoon (S2W LAB Inc.), Heedo Kang (KAIST), Yeonkeun Kim (KAIST), Yongdae Kim (KAIST), Dongsu Han (KAIST), Sooel Son (KAIST), Seungwon Shin (KAIST, S2W LAB Inc.)

The Dark Web is notorious for being a major distribution channel of harmful content as well as unlawful goods. Perpetrators have also used cryptocurrencies to conduct illicit financial transactions while hiding their identities. The limited coverage and outdated data of the Dark Web in previous studies motivated us to conduct an in-depth investigative study to understand how perpetrators abuse cryptocurrencies in the Dark Web. We designed and implemented MFScope, a new framework which collects Dark Web data, extracts cryptocurrency information, and analyzes their usage characteristics on the Dark Web. Specifically, MFScope collected more than 27 million dark webpages and extracted around 10 million unique cryptocurrency addresses for Bitcoin, Ethereum, and Monero. It then classified their usages to identify trades of illicit goods and traced cryptocurrency money flows, to reveal black money operations on the Dark Web. In total, using MFScope we discovered that more than 80% of Bitcoin addresses on the Dark Web were used with malicious intent; their monetary volume was around 180 million USD, and they sent a large sum of their money to several popular cryptocurrency services (e.g., exchange services). Furthermore, we present two real-world unlawful services and demonstrate their Bitcoin transaction traces, which helps in understanding their marketing strategy as well as black money operations.

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Suphannee Sivakorn (Columbia University), Kangkook Jee (NEC Labs America), Yixin Sun (Princeton University), Lauri Korts-Pärn (Cyber Defense Institute), Zhichun Li (NEC Labs America), Cristian Lumezanu (NEC Labs America), Zhenyu Wu (NEC Labs America), Lu-An Tang (NEC Labs America), Ding Li (NEC Labs America)

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Alberto Sonnino (University College London (UCL)), Mustafa Al-Bassam (University College London (UCL)), Shehar Bano (University College London (UCL)), Sarah Meiklejohn (University College London (UCL)), George Danezis (University College London (UCL))

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Jiyong Yu (UIUC), Lucas Hsiung (UIUC), Mohamad El'Hajj (UIUC), Christopher W. Fletcher (UIUC)

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Shasha Li (University of California Riverside), Ajaya Neupane (University of California Riverside), Sujoy Paul (University of California Riverside), Chengyu Song (University of California Riverside), Srikanth V. Krishnamurthy (University of California Riverside), Amit K. Roy Chowdhury (University of California Riverside), Ananthram Swami (United States Army Research Laboratory)

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