Cryptocurrency Wallet: A Review

Suratkar, Saurabh; Shirole, Mahesh; Bhirud, S. G.

doi:10.1109/icccsp49186.2020.9315193

Cited by 62 publications

(38 citation statements)

References 18 publications

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“…There are three types of wallets, software, hardware, and paper, depending on the form in which they exist [40]. Hardware and paper-based storage, which are physical storage, are more secure because they store keys in a way that isolates them from multi-user interaction.…”

Section: ) Inappropriate Key Managementmentioning

confidence: 99%

A Survey of DeFi Security: Challenges and Opportunities

Li¹,

Bu²,

Li³

et al. 2022

Preprint

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Decentralized finance (DeFi), which is a promising domain since the era of blockchain 2.0, locked $200 billion in April 2022. However, it quickly dropped to $100 billion in May 2022, which makes us realize that security issues in this area are still a challenging job. DeFi is more complex than traditional finance because it is decentralized through blockchain and without a trustworthy third-party institution to act as a guarantee. So it owns not only financial properties but also technical aspects. Existing synthesis work for DeFi tends to ignore the relevance of various layers of security for the whole system. In addition, distinct layers have different means of protection against specific vulnerabilities, which is not considered by existing analytical work. In this paper, we perform a vulnerability analysis for the entire technology layer of the DeFi application, and then we collect the most impactive attacks in recent years. Finally, we summarize the existing optimization approaches for different layers and provide some challenges and future directions.

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Section: ) Inappropriate Key Managementmentioning

confidence: 99%

A Survey of DeFi Security: Challenges and Opportunities

Li¹,

Bu²,

Li³

et al. 2022

Preprint

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“…In The Middle (MITM) attacks on the hardware wallets [14]. Different producers make hardware wallets compatible with different interfaces, therefore the security depends on wallets integration, rather than on hardware wallet itself [80]. On the other hand, Pedro et…”

Section: Hardware Wallets Analysismentioning

confidence: 99%

Horus: A Security Assessment Framework for Android Crypto Wallets

Uddin

Mannan

Youssef

2021

Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering

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Crypto wallet apps help cryptocurrency users to create, store, and manage keys, sign transactions, and keep track of funds. However, if these apps are not adequately protected, attackers can exploit security vulnerabilities in them to steal the private keys and gain ownership of the users' wallets. We develop a semi-automated security assessment framework, Horus 1 , specifically designed to analyze crypto wallet Android apps. We perform semiautomated analysis on 311 crypto wallet apps and manually inspect the top 18 most popular wallet apps from the Google Play Store. Our analysis includes capturing runtime behavior, reverse-engineering the apps, and checking for security standards crucial for wallet apps (e.g., random number generation and private key confidentiality). We reveal several severe vulnerabilities, including, for example, storing plaintext key revealing information in 111 apps which can lead to losing wallet ownership, and storing past transaction information in 11 apps which may lead to user deanonymization.

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“…There are various different wallet implementations making use of different technologies. A good survey on this topic can be found in [3]. Below we present some of the most important features of wallets that are relevant to this paper.…”

Section: B Wallet Applicationsmentioning

confidence: 99%

“…As in [3], we can divide wallets into a few categories. The first are online (web) wallets, which can be used through any web browser.…”

Section: B Wallet Applicationsmentioning

confidence: 99%

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CryptoVault - A Secure Hardware Wallet for Decentralized Key Management

Lehto

Halunen

Latvala

et al. 2021

2021 IEEE International Conference on Omni-Layer Intelligent Systems (COINS)

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In traditional centralized internet services, third parties authenticate the transactions of the users. An important property of decentralized blockchain networks is the unrestricted and secured access to the private keys of users, which may often be threatened for several reasons. One considerable problem in systems based on blockchain technology is when users lose access to their keys due to e.g. a broken or lost device. This paper, firstly, introduces an implementation that generates and maintains the private key in an Intel SGX enclave. The implementation allows using the private key in a process isolated from all other processes running on the same system. Secondly, the paper provides a method that enables the secure storage and recovery of a backup key to and from an external repository, using an end-to-end secure connection. One proposed application, with which this technology could be exploited, is the social wallet.

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Cryptocurrency Wallet: A Review

Cited by 62 publications

References 18 publications

A Survey of DeFi Security: Challenges and Opportunities

A Survey of DeFi Security: Challenges and Opportunities

Horus: A Security Assessment Framework for Android Crypto Wallets

CryptoVault - A Secure Hardware Wallet for Decentralized Key Management

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