The Analysis and Countermeasures on Security Breach of Bitcoin

Lim, Il-Kwon; Kim, Young-Hyuk; Lee, Jae-Gwang; Lee, Jae-Pil; Namgung, Hyun; Lee, Jae-Kwang

doi:10.1007/978-3-319-09147-1_52

Cited by 31 publications

(22 citation statements)

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“…The authors noted that $11 million had been contributed to scams by 13000 victims in Bitcoin from September 2013 to September 2014. Lim et al [48] analyzed the trend of security breaches in Bitcoin and their countermeasures. According to the authors, all possible types of security breaches had occurred, including DDoS attacks, private account hacking using Trojan horses, or viruses from ads.…”

Section: Classification Of the Relevant Papersmentioning

confidence: 99%

Where Is Current Research on Blockchain Technology?—A Systematic Review

et al. 2016

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Blockchain is a decentralized transaction and data management technology developed first for Bitcoin cryptocurrency. The interest in Blockchain technology has been increasing since the idea was coined in 2008. The reason for the interest in Blockchain is its central attributes that provide security, anonymity and data integrity without any third party organization in control of the transactions, and therefore it creates interesting research areas, especially from the perspective of technical challenges and limitations. In this research, we have conducted a systematic mapping study with the goal of collecting all relevant research on Blockchain technology. Our objective is to understand the current research topics, challenges and future directions regarding Blockchain technology from the technical perspective. We have extracted 41 primary papers from scientific databases. The results show that focus in over 80% of the papers is on Bitcoin system and less than 20% deals with other Blockchain applications including e.g. smart contracts and licensing. The majority of research is focusing on revealing and improving limitations of Blockchain from privacy and security perspectives, but many of the proposed solutions lack concrete evaluation on their effectiveness. Many other Blockchain scalability related challenges including throughput and latency have been left unstudied. On the basis of this study, recommendations on future research directions are provided for researchers.

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Section: Classification Of the Relevant Papersmentioning

confidence: 99%

Where Is Current Research on Blockchain Technology?—A Systematic Review

et al. 2016

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“…Mann & Loebenberger (2017) suggested two-factor authentication for a Bitcoin wallet. Lim et al (2014) analyzed the trend of security breaches in Bitcoin and their countermeasures. The authors also introduced some security countermeasures for individual users and safe Bitcoin transactions (e.g., a hardware wallet and a hardware authentication device).…”

Section: Blockchain Taxonomymentioning

confidence: 99%

“…Vasek & Moore (2015) investigated four types of Bitcoin scams (ponzi scams, mining scams, scam wallet, and fraudulent exchanges) by tracking online forums and voluntary vigilantes. Lim et al (2014) also addressed the DDoS attacks in Bitcoin.…”

Section: Blockchain Taxonomymentioning

confidence: 99%

Towards a blockchain-based certificate authentication system in Vietnam

Nguyen

Dao

2020

PeerJ Computer Science

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Anti-forgery information, transaction verification, and smart contract are functionalities of blockchain technology that can change the traditional business processes of IT applications. These functionalities increase the data transparency, and trust of users in the new application models, thus resolving many different social problems today. In this work, we take all the advantages of this technology to build a blockchain-based authentication system (called the Vietnamese Educational Certification blockchain, which stands for VECefblock) to deal with the delimitation of fake certificate issues in Vietnam. In this direction, firstly, we categorize and analyze blockchain research and application trends to make out our contributions in this domain. Our motivating factor is to curb fake certificates in Vietnam by applying the suitability of blockchain technology to the problem domain. This study proposed some blockchain-based application development principles in order to build a step by step VECefblock with the following procedures: designing overall architecture along with business processes, data mapping structure and implementing the decentralized application that can meet the specific Vietnamese requirements. To test system functionalities, we used Hyperledger Fabric as a blockchain platform that is deployed on the Amazon EC2 cloud. Through performance evaluations, we proved the operability of VECefblock in the practical deployment environment. This experiment also shows the feasibility of our proposal, thus promoting the application of blockchain technology to deal with social problems in general as well as certificate management in Vietnam.

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“…The importance of ensuring wallet security is also presented in [29] where the authors formally analyse the authentication properties of the Electrum wallet. The authors of [22] and [2] argue that Bitcoin wallets be tamper-resistant and propose cryptographic tokens as a countermeasure to malware attacks. Our work exploits Bitcoin transactions at the wallet level.…”

Section: Introductionmentioning

confidence: 99%

Low-Level Attacks in Bitcoin Wallets

Gkaniatsou

Arapinis

Kiayias

2017

Lecture Notes in Computer Science

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Abstract. As with every financially oriented protocol, there has been a great interest in studying, verifying, attacking, identifying problems, and proposing solutions for Bitcoin. Within that scope, it is highly recommended that the keys of user accounts are stored offline. To that end, companies provide solutions that range from paper wallets to tamper-resistant smart-cards, offering different level of security. While incorporating expensive hardware for the wallet purposes is though to bring guarantees, it is often that the low-level implementations introduce exploitable back-doors. This paper aims to bring to attention how the overlooked low-level protocols that implement the hardware wallets can be exploited to mount Bitcoin attacks. To demonstrate that, we analyse the general protocol behind LEDGER Wallets, the only EAL5+ certified against side channel analysis attacks hardware. In this work we conduct a throughout analysis on the Ledger Wallet communication protocol and show how to successfully attack it in practice. We address the lack of well-defined security properties that Bitcoin wallets should conform by articulating a minimal threat model against which any hardware wallet should defend. We further use that threat model to propose a lightweight fix that can be adopted by different technologies.

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The Analysis and Countermeasures on Security Breach of Bitcoin

Cited by 31 publications

References 0 publications

Where Is Current Research on Blockchain Technology?—A Systematic Review

Where Is Current Research on Blockchain Technology?—A Systematic Review

Towards a blockchain-based certificate authentication system in Vietnam

Low-Level Attacks in Bitcoin Wallets

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