confidence 2014: evgeny neyolov: bitcoin forensics, fact or fiction
DESCRIPTION
Bitcoin was one of the hottest topics of the past year. It is decentralized virtual currency based on cryptographic and peer-to-peer protocols and supposed to be anonymous as well as cash money. Without a doubt, bitcoin is the currency of the new age. Despite increased media attention this area is still full of rumors and pitfalls. Important but non-obvious things will be explained in this talk as well as ideas about why a system based on cryptography doesn’t mean anonymity by default. It will be shown how to analyze pseudo-anonymous money flaws and how to hide traces. Also, an analysis of famous cases of a cybercrime world (Silk Road, SheepMarketplace) will be presented. So, these materials will be interesting for forensics and anti-forensics people as well as security and IT geeks.TRANSCRIPT
A Tale about Bitcoin Anonymity
ZeronightsDefcon Russia
PrivacyForensics
E-commerceAnti-fraud systems
History1982 David Chaum (1990 released DigiCash)
1998 Wei Dai (B-Money)
1998 Nick Szabo BitGold
2008 Satochi Nakamoto (2009 released Bitcoin)
Basics• Bitcoind
• Public and private keys
• Address
• Wallet
• Coin
• Transaction
• Block
Concerns• Privacy – nobody knows what you are doing
• Anonymity – nobody know who are you
• Stealing of bitcoins
• Unfair mining
• Malware
• Fraud
Block Chain
Block Chain
Client• IP broadcasting with transaction
• Web services track users
• Government unlimited power
Balance• Virtual currency becomes offline money
• Initial deposit have to be anonymous
• Unlimited amount of addresses
• Change
Laundry• Give one money, get another money
• Works with many transactions flow only
• Effective with small transactions
• Problem of trust
Alternatives• Dark Wallet
• Zerocoin
• Forks
Thanks!