@techreport{oai:ipsj.ixsq.nii.ac.jp:00233775, author = {Aiman, Syazwan Bin Abdul Razak and Yin, Minn Pa Pa and Katsunari, Yoshioka and Tsutomu, Matsumoto and Aiman, Syazwan Bin Abdul Razak and Yin, Minn Pa Pa and Katsunari, Yoshioka and Tsutomu, Matsumoto}, issue = {4}, month = {Mar}, note = {Darknet markets use cryptocurrencies like Bitcoin for anonymous transactions in exchanging illicit goods and services. The restricted comprehension of cryptocurrency management and fund movements associated with darknet market impedes law enforcement, cybersecurity, and policy-making efforts to combat illicit activities in the darknet. To solve these problems, we focus on a two-fold approach, understanding cryptocurrency address management of darknet markets and the movement of funds within and outside of them. We study cryptocurrency address management by analyzing how darknet markets create Bitcoin addresses for invoices, exploring open-source darknet market frameworks on GitHub and their connections to darknet markets. Movement of funds within and outside of the darknet markets is traced by analyzing the Bitcoin transactions associated with addresses generated for market invoices., Darknet markets use cryptocurrencies like Bitcoin for anonymous transactions in exchanging illicit goods and services. The restricted comprehension of cryptocurrency management and fund movements associated with darknet market impedes law enforcement, cybersecurity, and policy-making efforts to combat illicit activities in the darknet. To solve these problems, we focus on a two-fold approach, understanding cryptocurrency address management of darknet markets and the movement of funds within and outside of them. We study cryptocurrency address management by analyzing how darknet markets create Bitcoin addresses for invoices, exploring open-source darknet market frameworks on GitHub and their connections to darknet markets. Movement of funds within and outside of the darknet markets is traced by analyzing the Bitcoin transactions associated with addresses generated for market invoices.}, title = {Unveiling the Shadows: Analyzing Cryptocurrency Address Management and Fund Movement of Darknet Markets}, year = {2024} }