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Cluster

A group of addresses controlled by the same operator

Category: Concepts Also known as: 4 Related terms: 3

Definition

Multiple Bitcoin addresses identified as belonging to the same controller. We use Meiklejohn 2013 common-input heuristic: addresses appearing as inputs in the same TX are presumed co-owned. Exchange clusters span thousands of addresses.

Context anchor

Mega-clusters (>500 addresses) typically belong to exchanges; <50 = small entity or personal use

Example

Binance hot-wallet cluster spans ~12,000 addresses operationally controlled

Also known as

clusterwallet clusteraddress clusterconnected wallets

Related terms

  • Common-Input HeuristicRule of thumb: addresses signing the same TX are likely same owner
  • Entity LabelThe organisation behind a cluster (exchange, custodian, miner, etc.)
  • Change AddressAn address that receives the "change" from a Bitcoin transaction