Android-based Cryptocurrency Wallets: Attacks and Countermeasures

Cong Li, Daojing He, Shihao Li, Sencun Zhu, Sammy Chan, Yao Cheng

Abstract: The security of cryptocurrency wallets is directly related to the security of personal assets. However, due to the design defects of mobile operating system and cryptocurrency wallets, security incidents of cryptocurrency wallets occur frequently, causing irreversible losses to users' assets or privacy. In this paper, we study the security risks of Android-based cryptocurrency wallets. We establish the adversary model, analyze the attack surface originated from the Android OS, and demonstrate several attack vectors by conducting experiments on multiple popular cryptocurrency wallets in Google Play Store. Finally, we present several security defense strategies in response to the security risks.