DSF Innovation Series
The DLT Science Foundation (DSF) recently organised a seminal event as part of their Innovation Series at the UCL School of Management. This seminar, aptly titled "Innovation: Unpacking Network Security and Cryptojacking," attracted a diverse audience, both in-person and online. It provided an in-depth exploration of network security challenges, mainly focusing on detecting cryptojacking through network traffic analysis.
The keynote speaker was Dr. Fang from the University of Oregon, an expert soon to join Nanyang Technological University, Singapore. Dr Fang's 45-minute presentation offered a comprehensive understanding of cryptojacking and its implications for network security. He elucidated cryptojacking as the illicit use of someone's computing resources for cryptocurrency mining, highlighting its common methods, such as malicious email links, compromised websites, and unauthorised server or PC use.
Dr Fang discussed the importance of crypto mining in validating transactions and adding value to the blockchain, noting the incentives earned through transaction fees and new coin generation. He drew a distinct comparison between cryptojacking and typical mining, pointing out the instability in hash rates often associated with cryptojacking due to the varied devices used and the hackers' limited ability to fully utilise a device's computing power. He also mentioned the adaptive strategies hackers employ to avoid detection.
Dr Fang dedicated much of the presentation to detecting cryptojacking through traffic analysis. Dr Fang highlighted the challenges in distinguishing between legitimate mining and cryptojacking traffic.
The seminar also featured an interactive Q&A session, allowing attendees to delve into technical aspects such as the accuracy of prediction models in crypto-jacking, data collection methods, and potential evasion techniques against detection systems. Discussions centred on the ground truth generated by running cryptojacking software on different machines, data collection from various devices, including IoT, under other system loads, and the possibility of evading detection by adding dummy packets, albeit at the cost of decreased network throughput.
The event concluded by inviting in-person attendees to join for refreshments, underscoring DSF's commitment to fostering a collaborative and engaging learning environment.
This seminar is a testament to DSF's dedication to advancing knowledge in blockchain technology and its applications, particularly enhancing network security. It serves as a pivotal platform for sharing cutting-edge research and facilitating vital discussions among experts in the field, aligning perfectly with DSF's mission of "Building trust, discovering truth" in distributed ledger technologies.
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