Security Analyses Method Cryptocurrency Exchange Services

Security Analyses Method Cryptocurrency Exchange Servicers

Internet is a common method of trading business today. The usage of cryptocurrencies has increased these days and it has become a trend to utilize them. Cryptocurrency exchange servicers provide different smartphone apps that unfortunately may become the target of malicious attacks. This paper focuses on how it achieves highest security and proposes the multiple layered security analyses method for cryptocurrency exchange servicers. Security Analyses Method Cryptocurrency Exchange Servicers

This paper tries to improve the security of cryptocurrency exchange providers. There are many types of such providers. Some of them deal in the exchange of one cryptocurrency (e.g. Bitcoin, Ethereum etc.) against another one while others also handle the exchange of FIAT currencies (e.g. US Dollar, UK Pounds etc.) and cryptocurrency. These exchanges provide apps for the convenience of the users. Due to the monetary involvement security is of upmost importance for these apps provided by the cryptocurrency exchanges. As the current trend is to provide services to clients using smartphone applications therefore this paper analyzes the built in security features available in Google Android and
Apple iPhone platforms. These default security features are the first line of defense against the security related threats. The paper also discusses triple combination security framework. The triple combination comprises of static and dynamic analyses of the third party apps provided by the exchangers followed by semantic analysis techniques for detecting the zero-day attacks.

Multiple layered security analysis model for exchange service is shown in Fig 1. This Multiple layered security model runs on decentralized network environment and cryptocurrency wallet APP [1] is implemented at second layer compulsory. The third layer is user exchange APP at user side. The fourth layer is Triple Combination Security API to judge any other exchange service application program. All exchange apps need to pass the security mechanism provided by the API. Otherwise these apps will
not be able to communicate with the bottom layers.

Here we design the triple combination security framework for third party apps. The security of these apps is an important concern because the funds can be stolen if there are some shortcomings in these third party apps

Semantic Analysis is responsible for analyzing the behavior of the app. If the behavior is valid the app can be run otherwise it will not be allowed execution rights. This analysis does not depend on attack signatures therefore it can provide protection from zero day attacks also [5]. Through this triple combination security shield the overall security can be improved for apps provided by cryptocurrency exchange providers. It is required to run each analysis at-least 24 hours so that maximum
vulnerabilities are discovered.

This paper proposed Multiple Layered Security Detection Analysis Method for Cryptocurrency Exchange
Servicer. It analyzed the built-in security features available in Android and iPhone platforms. Additionally it proposed a triple combination security framework. Each third party exchange service app is required to pass through this combination namely static, dynamic and semantic analyses. We designed triple combination security framework to judge the approved application on the user
exchange application. Paper has describe the details for each type of the analysis with final decision making.