Abstract:
Virtual currencies are being increasingly used around the globe. For this
reason, the security of the Bitcoin wallets is also becoming a major concern
for Bitcoin community. The security experts and developers are constantly at
work to come up with concrete solutions for ensuring the security of Bitcoin
wallets, so that their vulnerability exploitation could be reduced to zero. This
is so, because every single day, a large number of attacks targeted towards
Bitcoin, are being launched leading to monetary losses to a large number of
Bitcoin users. In this regard, this research work gives a security analysis of
existing Android Bitcoin wallets. It includes bypassing techniques used by
malicious entities for the implemented security practices. Such techniques
have also caused nancial losses to Bitcoin users. As a countermeasure, we
have proposed a smart card based authentication scheme that can protect
the users against all of the identi ed attacks.
