Analysis of Man-In-The-Middle of Attack on Bitcoin Address

Abba Garba, Zhi Guan, Anran Li, Zhong Chen

2018

Abstract

In cryptocurrency systems such as Bitcoin, user use string-hashes from public keys, that look like random strings, to receive payments. Unfortunately, there is no authority to verify user identity. Normally a user cannot prove the address binds with her real identity. Technically, a victim could get a tampered address and pay coins to this tampered address. In this paper, we report on the large-scale of Bitcoin addresses, including secured and unsecured merchants websites, exchange platforms, online chat forums, social channels and blogs. We illustrate our data through a range of graphs based on transaction distribution. Our analysis consists of crawling many web pages related to cryptocurrency transactions. We scrap the web pages by persing 10,0045 bitcoin addresses related to merchants or individuals that receive bitcoin in their websites directly. We determine how many addresses are subject to Man-in-the-middle of attack in our analysis. We review some countermeasures from best practices of Bitcoin transactions.

Paper Citation

in Harvard Style

Garba A., Guan Z., Li A. and Chen Z. (2018). Analysis of Man-In-The-Middle of Attack on Bitcoin Address.In Proceedings of the 15th International Joint Conference on e-Business and Telecommunications - Volume 1: SECRYPT, ISBN 978-989-758-319-3, pages 388-395. DOI: 10.5220/0006864003880395

in Bibtex Style

@conference{secrypt18,
author={Abba Garba and Zhi Guan and Anran Li and Zhong Chen},
title={Analysis of Man-In-The-Middle of Attack on Bitcoin Address},
booktitle={Proceedings of the 15th International Joint Conference on e-Business and Telecommunications - Volume 1: SECRYPT,},
year={2018},
pages={388-395},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0006864003880395},
isbn={978-989-758-319-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 15th International Joint Conference on e-Business and Telecommunications - Volume 1: SECRYPT,
TI - Analysis of Man-In-The-Middle of Attack on Bitcoin Address
SN - 978-989-758-319-3
AU - Garba A.
AU - Guan Z.
AU - Li A.
AU - Chen Z.
PY - 2018
SP - 388
EP - 395
DO - 10.5220/0006864003880395