Estimation of ransomware payments in Bitcoin ecosystem

Raheem, Ali, Raheem, Rand ORCID logoORCID: https://orcid.org/0000-0001-7075-9790, Chen, Thomas M. and Alkhayyat, Ahmed (2021) Estimation of ransomware payments in Bitcoin ecosystem. 2021 IEEE Intl Conf on Parallel & Distributed Processing with Applications, Big Data & Cloud Computing, Sustainable Computing & Communications, Social Computing & Networking (ISPA/BDCloud/SocialCom/SustainCom). In: 12th International Workshop on Trust, Security and Privacy for Big Data (TrustData 2021), 30 Sept - 03 Oct 2021, New York City, NY, USA. e-ISBN 9781665435741, pbk-ISBN 9781665411936. [Conference or Workshop Item] (doi:10.1109/ISPA-BDCloud-SocialCom-SustainCom52081.2021.00224)

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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.

Item Type: Conference or Workshop Item (Paper)
Research Areas: A. > School of Science and Technology > Computer and Communications Engineering
Item ID: 34745
Notes on copyright: © 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.
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Depositing User: Dr Rand Raheem
Date Deposited: 23 Feb 2022 10:44
Last Modified: 29 Jul 2022 07:20
URI: https://eprints.mdx.ac.uk/id/eprint/34745

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