Intrusion detection and mitigation system using blockchain analysis for bitcoin exchange

Suah Kim; Beomjoong Kim; Hyong Joong Kim

doi:10.1145/3291064.3291075

Intrusion detection and mitigation system using blockchain analysis for bitcoin exchange

Suah Kim, Beomjoong Kim, Hyong Joong Kim

Graduate School of Information Security

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

5 Citations (Scopus)

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	https://doi.org/10.1145/3291064.3291075
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

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

Access to Document

10.1145/3291064.3291075

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Cite this

Kim, S., Kim, B., & Kim, H. J. (2018). Intrusion detection and mitigation system using blockchain analysis for bitcoin exchange. In Proceedings of 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018 (pp. 40-44). (ACM International Conference Proceeding Series). Association for Computing Machinery. https://doi.org/10.1145/3291064.3291075

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

Kim, S, Kim, B & Kim, HJ 2018, Intrusion detection and mitigation system using blockchain analysis for bitcoin exchange. in Proceedings of 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018. ACM International Conference Proceeding Series, Association for Computing Machinery, pp. 40-44, 2018 International Conference on Cloud Computing and Internet of Things, CCIOT 2018, Singapore, Singapore, 18/10/29. https://doi.org/10.1145/3291064.3291075

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