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Bitcoin - The generation of private keys based on public keys, a live demonstration - Richard Dennis (ShowMeCon 2018) (Hacking Illustrated Series InfoSec Tutorial Videos)

Bitcoin - The generation of private keys based on public keys, a live demonstration
Richard Dennis

ShowMeCon 2018
http://www.showmecon.com

We will demonstrate the ability, to calculate the private keys of a Bitcoin wallet based on just the public key. This is a unique vulnerability that exposes some users of exchanges to this attack, which would allow an attacker the ability to calculate the private key and then spend a user,s Bitcoins. We show in detail how the poor implementation of cryptography is to blame and show results from the potentially the largest ever analysis of public / private key data on Bitcoin, showing the impact of this attack, and able to show this attacks effectiveness from 2012. In addition, we also reveal the results of 4 years, worth of data collection on the Bitcoin network, deanonymizing users before combining this data with the attack above, which demonstrates our ability to target a person for the purpose of stealing their bitcoins. A solution will be provided against these attacks before concluding the talk.

Bio: Richard obtained a Masters in Computer Information Security, with a grade of distinction from the University of Portsmouth in 2013 and is currently at the writing stage of his PhD examining scalability solution to blockchain networks. Richard taught as a lecturer of Cryptography at the School of Computing at Portsmouth University from 2017, being the youngest cryptographer lecturer in the United Kingdom. Currently Richard is undertaking research within Nettitude on vulnerabilities in public/private key generation in cryptocurrencies as well looking at use cases of blockchain technology.

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