Challenges and Recommendations for Improving Blockchain-Based Bank Transfer Security in 5G IoT Applications
Authors: Haytham.B. Alaboodi  
Published: December 2024

Blockchain technology in 5G IoT applications may improve security and efficiency. This paper examines blockchain-based bank transfer security problems and solutions for IoT applications. The security improvement framework we propose uses modern cryptographic algorithms and efficient consensus procedures for 5G-enabled IoT devices. Simulations show a 35% increase in transaction validation speed, from 2.3 seconds to 1.5 seconds. The framework also reduces energy usage per transaction by 42%, making it better for resource-constrained IoT devices. Bank transfer security indicators including fraud detection accuracy and data integrity increased 28% and 22%, respectively. A standardized threat simulation environment shows that the suggested architecture boosts DDoS resistance by 30%. Scalability, interoperability, and regulatory compliance remain issues despite these advances. This article suggests adaptive scaling algorithms, cross-platform integration solutions, and a compliance roadmap. The suggested methods seek to improve bank transfer security in 5G-enabled IoT environments and promote blockchain technology. It also raises awareness about vulnerabilities in IoT networks, including DDoS attacks and man-in-the-middle attacks, and the risks associated with reliance on third-party service providers. The study focuses on designing complete and adjustable protection for secure IoT and sensor networks, with the network layer sending digital information to the IoT system's server, the internet layer acting as a gateway between computers, and the application layer processing information displayed in the user interface. The paper investigates stealthy data exfiltration on IoT and presents a realistic assault approach and potential implementation strategy. The need for collaboration among enterprises, governments, and network operators is discussed, along with the need for standardized security standards, measures like end-to-end encryption and network segmentation, and education and awareness campaigns to address security concerns. The study explores the vulnerability of IoT devices to attacks, focusing on wireless protocols like Bluetooth and Zigbee. Researchers used two samples of smart light bulbs to analyze their light intensity, revealing that patterns can be seen in a single color at all times. Cross-domain attacks, such as clock mute and clock split attacks, are demonstrated using the I2C master-slave interface. The ADobf method, an obfuscated Trojan detection method, is introduced to mitigate clock attacks in I2C communication. Experimental results were evaluated using Verilog HDL and 45nm FreePDK technology. Finally, this work also explores the security risks posed by IoT devices in both civil and industrial applications, identifying protocol flaws and proposing solutions for analog-based hardware Trojans (HT) activity. The authors use Bluetooth low-energy protocols of smart bulbs to covertly exfiltrate data in conversationally secure air-gapped networks, using the GATT and General Access Profile layers of the protocol hierarchy to implement covert data channels and control the device.