Abstract
Bitcoin exchanges rely heavily on traditional intrusion detection system to secure their system. However, this reliance has proven to be high risk, since Bitcoin and other blockchain-based transactions are not easily reversible. Many of the attacks have shown that the traditional intrusion detection system is not enough to safeguard against all possible attacks, and most importantly, in some cases, it takes a long time to assess the damage. In this paper, we first describe three types of intrusion models in Bitcoin exchanges and propose a detection and mitigation system using blockchain analysis for each. The proposed detection and mitigation system exploit the decentralized and public nature of Bitcoin blockchain to complement the existing traditional intrusion detection system as a fail-safe. The proposed method provides real-time intrusion detection capability that the existing work cannot provide. Although the proposed method is specifically for Bitcoin blockchain, similar ideas can be extended to other proof-of-work based blockchain cryptocurrencies.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018 |
| Publisher | Association for Computing Machinery |
| Pages | 40-44 |
| Number of pages | 5 |
| ISBN (Electronic) | 9781450365765 |
| DOIs | |
| Publication status | Published - 2018 Oct 29 |
| Event | 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018 - Singapore, Singapore Duration: 2018 Oct 29 → 2018 Oct 31 |
Publication series
| Name | ACM International Conference Proceeding Series |
|---|
Conference
| Conference | 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018 |
|---|---|
| Country | Singapore |
| City | Singapore |
| Period | 18/10/29 → 18/10/31 |
Fingerprint
Keywords
- Bitcoin
- Bitcoin exchange
- Blockchain
- Blockchain analysis
- Intrusion detection system
- Mitigation
ASJC Scopus subject areas
- Human-Computer Interaction
- Computer Networks and Communications
- Computer Vision and Pattern Recognition
- Software
Cite this
Intrusion detection and mitigation system using blockchain analysis for bitcoin exchange. / Kim, Suah; Kim, Beomjoong; Kim, Hyong Joong.
Proceedings of 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018. Association for Computing Machinery, 2018. p. 40-44 (ACM International Conference Proceeding Series).Research output: Chapter in Book/Report/Conference proceeding › Conference contribution
}
TY - GEN
T1 - Intrusion detection and mitigation system using blockchain analysis for bitcoin exchange
AU - Kim, Suah
AU - Kim, Beomjoong
AU - Kim, Hyong Joong
PY - 2018/10/29
Y1 - 2018/10/29
N2 - Bitcoin exchanges rely heavily on traditional intrusion detection system to secure their system. However, this reliance has proven to be high risk, since Bitcoin and other blockchain-based transactions are not easily reversible. Many of the attacks have shown that the traditional intrusion detection system is not enough to safeguard against all possible attacks, and most importantly, in some cases, it takes a long time to assess the damage. In this paper, we first describe three types of intrusion models in Bitcoin exchanges and propose a detection and mitigation system using blockchain analysis for each. The proposed detection and mitigation system exploit the decentralized and public nature of Bitcoin blockchain to complement the existing traditional intrusion detection system as a fail-safe. The proposed method provides real-time intrusion detection capability that the existing work cannot provide. Although the proposed method is specifically for Bitcoin blockchain, similar ideas can be extended to other proof-of-work based blockchain cryptocurrencies.
AB - Bitcoin exchanges rely heavily on traditional intrusion detection system to secure their system. However, this reliance has proven to be high risk, since Bitcoin and other blockchain-based transactions are not easily reversible. Many of the attacks have shown that the traditional intrusion detection system is not enough to safeguard against all possible attacks, and most importantly, in some cases, it takes a long time to assess the damage. In this paper, we first describe three types of intrusion models in Bitcoin exchanges and propose a detection and mitigation system using blockchain analysis for each. The proposed detection and mitigation system exploit the decentralized and public nature of Bitcoin blockchain to complement the existing traditional intrusion detection system as a fail-safe. The proposed method provides real-time intrusion detection capability that the existing work cannot provide. Although the proposed method is specifically for Bitcoin blockchain, similar ideas can be extended to other proof-of-work based blockchain cryptocurrencies.
KW - Bitcoin
KW - Bitcoin exchange
KW - Blockchain
KW - Blockchain analysis
KW - Intrusion detection system
KW - Mitigation
UR - http://www.scopus.com/inward/record.url?scp=85061284797&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85061284797&partnerID=8YFLogxK
U2 - 10.1145/3291064.3291075
DO - 10.1145/3291064.3291075
M3 - Conference contribution
AN - SCOPUS:85061284797
T3 - ACM International Conference Proceeding Series
SP - 40
EP - 44
BT - Proceedings of 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018
PB - Association for Computing Machinery
ER -