MixingCash is the same as Anonymous Set
We have done a series of work for MixingCash to understand that MixingCash is a coin mixer that allows users to deposit virtual coins and withdraw through another account, breaking the chain between the two wallets.
Currently, Mixingcash allows you to deposit a specific amount of virtual coins in the pool, and after the deposit you will get an order number, and you can withdraw the deposit to any wallet address of your choice. The logic is that a cross-chain de-association between the two wallets on the chain and a large amount of secure funds are mixed in, a concept known as an anonymity set.
As the number of deposits increases, so does the privacy of the pool, as each deposit is mixed with other deposits and a large amount of safe funds are mixed in.
Heuristic 1: Reuse the deposit address when withdrawing.
This is a simple and intuitive heuristic, if a user deposits from one wallet and withdraws money from the same wallet, their anonymity will be reduced, but it will not be invalid.
Heuristic 2: Use a special gas **
Many wallets have their own gas estimation system. However, if the user manually sets the gas to be paid, that custom will be stored in the wallet and used as the default for other transactions. This means that if we can find a set of wallet addresses with the same gas price setting in the transaction history of deposits and withdrawals, we can consider the two addresses to be potentially related, which is the logic of our heuristic 2.
Heuristic 3: Wallet address affinity other than mixingcash.
The third heuristic is the analysis of transactions made by deposit and withdrawal addresses outside of the MixingCash platform, and if a pair of deposit and withdrawal addresses has interacted with a third-party address multiple times, it can be assumed that the pair of deposit and withdrawal addresses belongs to the same entity.
The logic of this heuristic is simple, but it is not possible to implement it, because the entire on-chain transaction data needs to be analyzed, and it takes a lot of computation to find the correlation between these addresses.
Heuristic 4: Multiple payments of the same amount are revealed.
Suppose you keep depositing the same denomination and proposing the same amount, in which case it will be easier to analyze. In the process of mixing, there are no other wallet addresses mixing tokens of the same denomination, so it is easier to connect the deposit and withdrawal addresses.
Talking about a sinkhole, that is, any real mixing of coins should be carried out in a separate address environment dedicated to a special person, rather than in any exposed environment that can be checked and known by the public, which is no different from running naked, because anyone can eat melons and watch naked running! There is a technical realization that cannot be traced back to the source, the mixing time is short, and the service fee is 05%-1% only mixingCash mixer. Moreover, cryptocurrency theft occurs from time to time, as a member of the industry, we should avoid participating in the "coin laundering" of Ethereum, Bitcoin, and USDT, and the premise of all this may be: understand the operation mode of this gray industry chain.