Avizheh, Sepideh, Safavi-Naini, Reihaneh and Shahandashti, Siamak F. orcid.org/0000-0002-5284-6847 (2018) A New Look at the Refund Mechanism in the Bitcoin Payment Protocol. In: Financial Cryptography and Data Security 2018, 26 Feb - 02 Mar 2018.
Abstract
BIP70 is the Bitcoin payment protocol for communication between a merchant and a pseudonymous customer. McCorry et al. (FC 2016) showed that BIP70 is prone to refund attacks and proposed a fix that requires the customer to sign their refund request. They argued that this minimal change will provide resistance against refund attacks. In this paper, we point out the drawbacks of McCorry et al.’s fix and propose a new approach for protection against refund attacks using the Bitcoin multisignature mechanism. Our solution does not rely on merchants storing the refund request, and unlike the previous solution, allows updating the refund addresses through email. We discuss the security of our proposed method and compare it with the previous solution. We also propose a novel application of our refund mechanism in providing anonymity for payments between a payer and payee in which merchants act as mixing servers. We finally discuss how to combine the above two mechanisms in a single payment protocol to have an anonymous payment protocol secure against refund attacks.
Metadata
Item Type: | Conference or Workshop Item |
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Authors/Creators: |
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Keywords: | Bitcoin,Security,Payment Security,Refund Attack |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Sciences (York) > Computer Science (York) |
Depositing User: | Pure (York) |
Date Deposited: | 08 Mar 2018 09:30 |
Last Modified: | 20 Dec 2024 00:07 |
Published Version: | https://doi.org/10.1007/978-3-662-58387-6_20 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1007/978-3-662-58387-6_20 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:128233 |
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Description: bitcoin-refund-fc18-preproceeding-version