A critical review of Bitcoins usage by cybercriminals

    Research output: Chapter in Book/Report/Conference proceedingConference Paper published in ProceedingsResearchpeer-review

    Abstract

    Bitcoin is a new form of global digital currency based on peer-to-peer network, enabling a new payment system, and also a completely decentralised cryptocurrency. The P2P network consists of a digital file listing transactions like a ledger, a copy of which is also maintained on every computer on the network, and the transactions are also broadcasted in the public ledger of the Bitcoin network. Anonymity is the core feature that makes Bitcoin popular among people around the world. This feature is attained through the Bitcoin addresses in the public ledger, which represents the users in the Bitcoin network. Because of the illicit use of Bitcoins, the level of anonymity has reduced even though the users are still using the anonymizers like TOR to keep the anonymity stronger to connect to the Bitcoin network. In this paper, we analyse the complete process of transaction of Bitcoins and the anonymity thatlies in that process. The study also focuses on finding the forensic artefacts and the investigative way of approach towards the Bitcoin using forensic tools. The forensic tools are used to analyse the web browser activities, local drive, hard disk image, cookies, downloads and session data related to Bitcoins. The attacker can relate the transaction of the users and can control the Bitcoin blocks by even delaying the transactions. This research will focus on the methods in which the memory and even mobile devices involved in the transaction could be captured and analysed.

    Original languageEnglish
    Title of host publication2017 International Conference on Computer Communication and Informatics, ICCCI 2017
    PublisherIEEE, Institute of Electrical and Electronics Engineers
    Pages1-7
    Number of pages7
    ISBN (Electronic)9781467388542
    DOIs
    Publication statusPublished - 21 Nov 2017
    Event7th International Conference on Computer Communication and Informatics, ICCCI 2017 - Coimbatore, India
    Duration: 5 Jan 20177 Jan 2017

    Conference

    Conference7th International Conference on Computer Communication and Informatics, ICCCI 2017
    CountryIndia
    CityCoimbatore
    Period5/01/177/01/17

    Fingerprint

    Peer to peer networks
    Web browsers
    Hard disk storage
    Mobile devices
    Data storage equipment
    Electronic money

    Cite this

    Jose, J., Kannoorpatti, K., Shanmugam, B., Azam, S., & Yeo, K. (2017). A critical review of Bitcoins usage by cybercriminals. In 2017 International Conference on Computer Communication and Informatics, ICCCI 2017 (pp. 1-7). [17392899] IEEE, Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/ICCCI.2017.8117693
    Jose, Jithin ; Kannoorpatti, Krishnan ; Shanmugam, Bharanidharan ; Azam, Sami ; Yeo, Kheng. / A critical review of Bitcoins usage by cybercriminals. 2017 International Conference on Computer Communication and Informatics, ICCCI 2017. IEEE, Institute of Electrical and Electronics Engineers, 2017. pp. 1-7
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    title = "A critical review of Bitcoins usage by cybercriminals",
    abstract = "Bitcoin is a new form of global digital currency based on peer-to-peer network, enabling a new payment system, and also a completely decentralised cryptocurrency. The P2P network consists of a digital file listing transactions like a ledger, a copy of which is also maintained on every computer on the network, and the transactions are also broadcasted in the public ledger of the Bitcoin network. Anonymity is the core feature that makes Bitcoin popular among people around the world. This feature is attained through the Bitcoin addresses in the public ledger, which represents the users in the Bitcoin network. Because of the illicit use of Bitcoins, the level of anonymity has reduced even though the users are still using the anonymizers like TOR to keep the anonymity stronger to connect to the Bitcoin network. In this paper, we analyse the complete process of transaction of Bitcoins and the anonymity thatlies in that process. The study also focuses on finding the forensic artefacts and the investigative way of approach towards the Bitcoin using forensic tools. The forensic tools are used to analyse the web browser activities, local drive, hard disk image, cookies, downloads and session data related to Bitcoins. The attacker can relate the transaction of the users and can control the Bitcoin blocks by even delaying the transactions. This research will focus on the methods in which the memory and even mobile devices involved in the transaction could be captured and analysed.",
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    Jose, J, Kannoorpatti, K, Shanmugam, B, Azam, S & Yeo, K 2017, A critical review of Bitcoins usage by cybercriminals. in 2017 International Conference on Computer Communication and Informatics, ICCCI 2017., 17392899, IEEE, Institute of Electrical and Electronics Engineers, pp. 1-7, 7th International Conference on Computer Communication and Informatics, ICCCI 2017, Coimbatore, India, 5/01/17. https://doi.org/10.1109/ICCCI.2017.8117693

    A critical review of Bitcoins usage by cybercriminals. / Jose, Jithin ; Kannoorpatti, Krishnan; Shanmugam, Bharanidharan; Azam, Sami; Yeo, Kheng.

    2017 International Conference on Computer Communication and Informatics, ICCCI 2017. IEEE, Institute of Electrical and Electronics Engineers, 2017. p. 1-7 17392899.

    Research output: Chapter in Book/Report/Conference proceedingConference Paper published in ProceedingsResearchpeer-review

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    AB - Bitcoin is a new form of global digital currency based on peer-to-peer network, enabling a new payment system, and also a completely decentralised cryptocurrency. The P2P network consists of a digital file listing transactions like a ledger, a copy of which is also maintained on every computer on the network, and the transactions are also broadcasted in the public ledger of the Bitcoin network. Anonymity is the core feature that makes Bitcoin popular among people around the world. This feature is attained through the Bitcoin addresses in the public ledger, which represents the users in the Bitcoin network. Because of the illicit use of Bitcoins, the level of anonymity has reduced even though the users are still using the anonymizers like TOR to keep the anonymity stronger to connect to the Bitcoin network. In this paper, we analyse the complete process of transaction of Bitcoins and the anonymity thatlies in that process. The study also focuses on finding the forensic artefacts and the investigative way of approach towards the Bitcoin using forensic tools. The forensic tools are used to analyse the web browser activities, local drive, hard disk image, cookies, downloads and session data related to Bitcoins. The attacker can relate the transaction of the users and can control the Bitcoin blocks by even delaying the transactions. This research will focus on the methods in which the memory and even mobile devices involved in the transaction could be captured and analysed.

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    Jose J, Kannoorpatti K, Shanmugam B, Azam S, Yeo K. A critical review of Bitcoins usage by cybercriminals. In 2017 International Conference on Computer Communication and Informatics, ICCCI 2017. IEEE, Institute of Electrical and Electronics Engineers. 2017. p. 1-7. 17392899 https://doi.org/10.1109/ICCCI.2017.8117693