New attacks on the untraceability of transactions in CryptoNote-style blockchains

Sina Aeeneh, Joao Otavio Chervinski, Jiangshan Yu, Nikola Zlatanov

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearchpeer-review

3 Citations (Scopus)

Abstract

CryptoNote is a privacy-focused blockchain protocol. Currently, more than 10 different cryptocurrencies including Monero, a popular cryptocurrency with a 1-year average market cap of 2 billion USD, have been developed based on the CryptoNote's protocol. CryptoNote obscures the connection between inputs and outputs of a transaction by adding decoy inputs. In this paper, we introduce probabilistic attacks to the untraceability of CryptoNote which substantially degrades the level of privacy of CryptoNote-style blockchains. We analyze the effectiveness of the proposed attacks and derive their error rates.

Original languageEnglish
Title of host publicationIEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021
EditorsRaja Jurdak, William Knottenbelt, Bhaskar Krishnamachari
Place of PublicationPiscataway NJ USA
PublisherIEEE, Institute of Electrical and Electronics Engineers
Number of pages5
ISBN (Electronic)9781665435789
ISBN (Print)9781665411882
DOIs
Publication statusPublished - 2021
EventIEEE International Conference on Blockchain and Cryptocurrency 2021 - Online, Sydney, Australia
Duration: 3 May 20216 May 2021
Conference number: 3rd
https://ieeexplore.ieee.org/xpl/conhome/9460986/proceeding (Proceedings)

Conference

ConferenceIEEE International Conference on Blockchain and Cryptocurrency 2021
Abbreviated titleICBC 2021
Country/TerritoryAustralia
CitySydney
Period3/05/216/05/21
Internet address

Keywords

  • Blockchain
  • CryptoNote
  • Information theory
  • Monero
  • Privacy

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