Estimation of ransomware payments in Bitcoin ecosystem

Conference paper


Raheem, A., Raheem, R., Chen, T. and Alkhayyat, A. 2021. Estimation of ransomware payments in Bitcoin ecosystem. 12th International Workshop on Trust, Security and Privacy for Big Data (TrustData 2021). New York City, NY, USA 30 Sep - 03 Oct 2021 IEEE. pp. 1667-1674 https://doi.org/10.1109/ISPA-BDCloud-SocialCom-SustainCom52081.2021.00224
TypeConference paper
TitleEstimation of ransomware payments in Bitcoin ecosystem
AuthorsRaheem, A., Raheem, R., Chen, T. and Alkhayyat, A.
Abstract

Ransomware is one of the malicious software that is designed to prevent access to computer system until a sum of money is paid by the victim to the attacker. During the infection, the computer will either be locked, or the data will be encrypted. Ransoms are often demanded in Bitcoin, a largely anonymous Cryptocurrency. All transactions are recorded in the blockchain and verified by peer-to-peer networks. This paper investigation collects ten recent ransomware families, which use bitcoin as a payment for their ransom. In conjunction, we identified, collected and analysed Bitcoin addresses of users combining information from a clustering model and the blockchain. We used a heuristic clustering algorithm to reveal the hidden node's payment of ransomware. Finally, we demonstrated the characteristics of ransomware encryption mechanisms that include a view of the infected process and its execution, and the distinctive demands of ransom.

KeywordsBitcoin; Blockchain; Cybercrime; Heuistic Clustering; Ransomware; Distrbibuted Ledeger; Payment; Transaction
LanguageEnglish
Conference12th International Workshop on Trust, Security and Privacy for Big Data (TrustData 2021)
Page range1667-1674
Proceedings Title2021 IEEE Intl Conf on Parallel & Distributed Processing with Applications, Big Data & Cloud Computing, Sustainable Computing & Communications, Social Computing & Networking (ISPA/BDCloud/SocialCom/SustainCom)
SeriesIEEE International Symposium on Parallel and Distributed Processing with Applications
ISSN2158-9178
ISBN
Electronic9781665435741
Paperback9781665411936
PublisherIEEE
Publication dates
Print30 Sep 2021
Online22 Dec 2021
Publication process dates
Deposited23 Feb 2022
Accepted01 Jul 2021
Output statusPublished
Accepted author manuscript
Copyright Statement

© 2021 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.

Digital Object Identifier (DOI)https://doi.org/10.1109/ISPA-BDCloud-SocialCom-SustainCom52081.2021.00224
Web of Science identifierWOS:000766837400208
Web address (URL) of conference proceedingshttps://ieeexplore.ieee.org/xpl/conhome/9644634/proceeding
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