Refund Attacks on Bitcoin’s Payment Protocol
- Submitting institution
-
University of York
- Unit of assessment
- 11 - Computer Science and Informatics
- Output identifier
- 59970338
- Type
- E - Conference contribution
- DOI
-
10.1007/978-3-662-54970-4_34
- Title of conference / published proceedings
- Financial Cryptography and Data Security
- First page
- 581
- Volume
- -
- Issue
- -
- ISSN
- -
- Open access status
- -
- Month of publication
- May
- Year of publication
- 2017
- URL
-
-
- Supplementary information
-
-
- Request cross-referral to
- -
- Output has been delayed by COVID-19
- No
- COVID-19 affected output statement
- -
- Forensic science
- No
- Criminology
- No
- Interdisciplinary
- No
- Number of additional authors
-
2
- Research group(s)
-
-
- Citation count
- 2
- Proposed double-weighted
- No
- Reserve for an output with double weighting
- No
- Additional information
- This work unveiled vulnerabilities in the Payment Protocol, the de facto standard for Bitcoin payment supported by the three dominant Payment Processors: Coinbase, BitPay, and Bitt, collectively providing Bitcoin payment services for more than 100,000 merchants worldwide. The discovered vulnerabilities can lead to stealing customer funds and money laundering. All three dominant Payment Processors have acknowledged our work, changed their refund policies as a short-term patch, and are adopting our proposed changes to the protocol standard as the long-term solution.
- Author contribution statement
- -
- Non-English
- No
- English abstract
- -