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

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

doi:10.1109/ICBC51069.2021.9461130

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 proceeding › Conference Paper › Research › peer-review

4 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 language	English
Title of host publication	IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021
Editors	Raja Jurdak, William Knottenbelt, Bhaskar Krishnamachari
Place of Publication	Piscataway NJ USA
Publisher	IEEE, Institute of Electrical and Electronics Engineers
Number of pages	5
ISBN (Electronic)	9781665435789
ISBN (Print)	9781665411882
DOIs	https://doi.org/10.1109/ICBC51069.2021.9461130
Publication status	Published - 2021
Event	IEEE International Conference on Blockchain and Cryptocurrency 2021 - Online, Sydney, Australia Duration: 3 May 2021 → 6 May 2021 Conference number: 3rd https://ieeexplore.ieee.org/xpl/conhome/9460986/proceeding (Proceedings)

Conference

Conference	IEEE International Conference on Blockchain and Cryptocurrency 2021
Abbreviated title	ICBC 2021
Country/Territory	Australia
City	Sydney
Period	3/05/21 → 6/05/21
Internet address	https://ieeexplore.ieee.org/xpl/conhome/9460986/proceeding (Proceedings)

Keywords

Blockchain
CryptoNote
Information theory
Monero
Privacy

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10.1109/ICBC51069.2021.9461130

Cite this

Aeeneh, S., Chervinski, J. O., Yu, J., & Zlatanov, N. (2021). New attacks on the untraceability of transactions in CryptoNote-style blockchains. In R. Jurdak, W. Knottenbelt, & B. Krishnamachari (Eds.), IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021 IEEE, Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/ICBC51069.2021.9461130

Aeeneh, Sina ; Chervinski, Joao Otavio ; Yu, Jiangshan et al. / New attacks on the untraceability of transactions in CryptoNote-style blockchains. IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021. editor / Raja Jurdak ; William Knottenbelt ; Bhaskar Krishnamachari. Piscataway NJ USA : IEEE, Institute of Electrical and Electronics Engineers, 2021.

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title = "New attacks on the untraceability of transactions in CryptoNote-style blockchains",

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. ",

keywords = "Blockchain, CryptoNote, Information theory, Monero, Privacy",

author = "Sina Aeeneh and Chervinski, {Joao Otavio} and Jiangshan Yu and Nikola Zlatanov",

note = "Publisher Copyright: {\textcopyright} 2021 IEEE. Copyright: Copyright 2021 Elsevier B.V., All rights reserved.; IEEE International Conference on Blockchain and Cryptocurrency 2021, ICBC 2021 ; Conference date: 03-05-2021 Through 06-05-2021",

year = "2021",

doi = "10.1109/ICBC51069.2021.9461130",

language = "English",

isbn = "9781665411882",

editor = "Raja Jurdak and William Knottenbelt and Bhaskar Krishnamachari",

booktitle = "IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021",

publisher = "IEEE, Institute of Electrical and Electronics Engineers",

address = "United States of America",

url = "https://ieeexplore.ieee.org/xpl/conhome/9460986/proceeding",

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Aeeneh, S, Chervinski, JO, Yu, J & Zlatanov, N 2021, New attacks on the untraceability of transactions in CryptoNote-style blockchains. in R Jurdak, W Knottenbelt & B Krishnamachari (eds), IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021. IEEE, Institute of Electrical and Electronics Engineers, Piscataway NJ USA, IEEE International Conference on Blockchain and Cryptocurrency 2021, Sydney, New South Wales, Australia, 3/05/21. https://doi.org/10.1109/ICBC51069.2021.9461130

New attacks on the untraceability of transactions in CryptoNote-style blockchains. / Aeeneh, Sina; Chervinski, Joao Otavio; Yu, Jiangshan et al.
IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021. ed. / Raja Jurdak; William Knottenbelt; Bhaskar Krishnamachari. Piscataway NJ USA: IEEE, Institute of Electrical and Electronics Engineers, 2021.

Research output: Chapter in Book/Report/Conference proceeding › Conference Paper › Research › peer-review

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T1 - New attacks on the untraceability of transactions in CryptoNote-style blockchains

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AU - Chervinski, Joao Otavio

AU - Yu, Jiangshan

AU - Zlatanov, Nikola

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N2 - 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.

AB - 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.

KW - Blockchain

KW - CryptoNote

KW - Information theory

KW - Monero

KW - Privacy

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DO - 10.1109/ICBC51069.2021.9461130

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SN - 9781665411882

BT - IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021

A2 - Jurdak, Raja

A2 - Knottenbelt, William

A2 - Krishnamachari, Bhaskar

PB - IEEE, Institute of Electrical and Electronics Engineers

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T2 - IEEE International Conference on Blockchain and Cryptocurrency 2021

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Aeeneh S, Chervinski JO, Yu J, Zlatanov N. New attacks on the untraceability of transactions in CryptoNote-style blockchains. In Jurdak R, Knottenbelt W, Krishnamachari B, editors, IEEE International Conference on Blockchain and Cryptocurrency, ICALT 2021. Piscataway NJ USA: IEEE, Institute of Electrical and Electronics Engineers. 2021 doi: 10.1109/ICBC51069.2021.9461130

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

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