Crypto-currencies and Cybercrime

Crypto-currencies and Cybercrime.

CRYPTO-CURRENCIES AND CYBERCRIME 1
Table of Contents
Stage 1 – Identify the Research Question..............................................................................................2
Stage 2 – Literature Search & Annotated Bibliography.........................................................................2
Stage 3: Research Paper........................................................................................................................3
Introduction.......................................................................................................................................3
Literature review...............................................................................................................................4
Crypto locker.................................................................................................................................5
Wanna cry ransomware.................................................................................................................5
Crypto jacking................................................................................................................................6
Mitigation processes......................................................................................................................6
Two mitigation points....................................................................................................................7
Drawbacks of the mitigation..........................................................................................................7
Overcome that drawbacks.............................................................................................................8
Conclusion.........................................................................................................................................8
References.............................................................................................................................................9

CRYPTO-CURRENCIES AND CYBERCRIME 2
Stage 1 – Identify the Research Question
 What malware, e.g., Crypto lockers have been used by cybercriminals to obtain
crypto currencies, which vulnerabilities did they exploit and what mitigation can
be adopted against them?
 What attack vectors have been used to exploit crypto currencies (e.g. Skype and
Yahoo and how to counter them?
 What attacks on crypto currencies have been theoretically identified (e.g., Double
Spending Attack and Block Discarding Attack and how could they be
avoided/mitigated?
 What incidents affecting crypto currencies (e.g. security breaches on Mt. Gox–
the largest Bit coin exchange and on Bit coinica [8] online trading site for Bit
coins) show us about risks and possible mitigations?
Stage 2 – Literature Search & Annotated Bibliography
Higbee, A., (2018) the role of crypto-currency in cybercrime. Computer Fraud &
Security, 2018(7), pp.13-15.
The title of this journal paper is the role of crypto-currency in cybercrime that was
written by Aaron Higbee. According to this paper, the first crypto-current observed in
the year 2009 when bit coin was developed and in the last few years the market for
crypto-currencies has increased by 40%. The main objective of this journal article is to
analysis the role of crypto-currency in the area of cyber-attacks and key factors that
influence the issue of hacking. There are many other currencies that also play a
significant role in the cyber-crime which are described in this paper and ransom ware is
one of the common attacks that take payment through bit coin.
Brown, S.D., (2016) Crypto currency and criminality: The Bit coin opportunity.
The Police Journal, 89(4), pp.327-339.
The title of this article is Crypto currency and criminality: The Bit coin opportunity that
was produced by Steven David Brown. This paper describes the concept of bit coin and
how hackers use crypto currency in order to block the user's personal data. In few
respects, the crypto-currencies are still watched as an unacquainted, peripheral

CRYPTO-CURRENCIES AND CYBERCRIME 3
occurrence limited to the purview of specialists. The bit coin constitutes is a substantial
danger for the consumer's in terms of criminal enterprise and most of criminal involve
such kind of stage to attack the human-computer networks. It is observed that most
hackers use malicious software to control and monitor the user peripheral devices and
hacks their personal information.
Irwin, A.S. and Milad, G., (2016) the use of crypto-currencies in funding violent
jihad. Journal of Money Laundering Control, 19(4), pp.407-425.
The main title of this paper is the use of crypto-currencies in funding violent jihad that
was published by Angela S.M. Irwin. According to this article in this generation, it is very
complex to identify con concrete evidence of large-scale utilize of bit coins and another
crypto currencies by criminals. This paper reviews on the topic of crypto currencies like
bit coin and their importance of this in a cyber-crime. In which relevant data or
information is gathered from various sources like press releases, journal papers, and
other publications. Today, numbers of bit coin ATMs and exchanges process are placed
in countries and hackers uses such kind of platform to receive payment from consumers
and organizations. It presents significant risks or issues because they allow for the
anonymous, unified transfer of money to hackers and their supporters.
Stage 3: Research Paper
Introduction
A crypto currency is defined as a digital asset which is designed to work as a process to
exchange money one form to another. The use of crypto currency in growing rapidly
and many hackers use this step during cyber-crimes. Cybercrime refers as the attack in
which hackers block the computer networks of consumers and store the personal
information of consumers (Ahn, et al., 2014). Cybercriminals use the advanced malware
software to access the personal information, financial documents and bank details of the
consumer. In the last five years the rate of cyber-crimes has increased by 40% and
many companies are facing the issue of cyber-attack. The aim of this report is to analysis
the different types of malware used by a cybercriminal to hack the crypto-currency and
prevention method to improve the security of consumer personal data. There are