27 Nov '14, 11am

Bitcoin Not That Anonymous Afterall

Bitcoin Not That Anonymous Afterall

The cyber-libertarian poster-child Bitcoin, meant to usher in a new age of anonymous transactions, is rubbish at protecting users’ IP addresses according to research from the University of Luxembourg. In this Association of Computing Machinery (ACM) conference paper by Alex Biryukov, Dmitry Khovratovich and Ivan Pustogarov of the Laboratory of Algorithmics, Cryptology and Security, “few computers” and a budget of €1,500 per for servers and traffic charges should be enough to start unmasking users’ addresses with as much as 60 per cent accuracy. If an attacker needed to be stealthy, their success rate would drop to 11 per cent. In what they call “a generic method to deanonymise a significant fraction of Bitcoin users and correlate their pseudonyms with public IP addresses”, the authors say clients can be uniquely identified by their “entry nodes”, and that these identify th...

Full article: http://www.darknet.org.uk/2014/11/bitcoin-not-anonymous-a...

Tweets

Bitcoin Is Not Anonymous After All

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