On-chain analytics use clustering heuristics (e.g., common-input-ownership), change address detection, timing, and graph linkage to infer ownership. Exchanges and service providers add KYC/AML metadata, strengthening attribution.

Typical heuristics

• Common input ownership and multi‑input clustering
• Change address patterns and script type reuse
• Amount and timing correlations across transactions
• Taint/propagation scoring through transaction graphs

Reducing linkage risk

• Avoid address reuse; prefer fresh outputs
• Vary amounts and delays, split outputs
• Use mixing with a persistent mixing code to prevent self‑linking
• Mind off‑chain identifiers (invoices, memos, IP, cookies)

Privacy is a process: combine good wallet hygiene, timing randomization, and trusted tools to minimize traceability.