Abstract: Disclosed is a coin-mixing service analysis method based on heuristic transaction analysis, including: selecting a target service to be analyzed; firstly, performing security analysis on the target service, and determining whether an API provided thereby contains vulnerability; if the API of the target service contains vulnerability, then obtaining sample transactions directly by means of the API containing the vulnerability; if the API of the target service contains no vulnerability, then obtaining sample transactions by using a small amount of Bitcoin for interaction with the service; using a heuristic transaction analysis method and determination standard to analyze the target service and the sample transaction thereof, and determine a service category to which the target service belongs; and for an obfuscated coin-mixing service, by means of a heuristic method, further using structural defects contained in transactions generated by the coin-mixing service to identify all coin-mixing transactions of the ob