DISTRIBUTED CRYPTO CURRENCY UNAUTHORIZED TRANSFER MONITORING SYSTEM

• US 20150302401A1
• Filed: 04/18/2014
• Published: 10/22/2015
• Est. Priority Date: 04/18/2014
• Status: Active Application

• Current Assignee: PayPal, Inc. (PayPal Holdings, Inc.)
• Original Assignee: eBay Inc.
• Inventors: Metral, Max Edward
• Application Number:
  US14/256,795
• Publication Number:
  US 20150302401A1
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/065 using e-cash
• CPC Class Codes: G06Q 20/322 Aspects of commerce using mobile devices [M-devices]
• CPC Class Codes: G06Q 20/3829 involving key management
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

Distributed crypto currency systems and methods include receiving a payer public key that is associated with a current transaction between a payer and a payee. It is determined whether the payer public key is included in a plurality of previous transaction public keys that are each associated with a respective unauthorized crypto currency transfer as a result of a previous transaction. In response to determining that the payer public key is included in the plurality of previous transaction public keys, a message is sent to the payee to not proceed with the current transaction. In response to determining that the payer public key is not included in the plurality of previous transaction public keys, a message is sent to the payee to proceed with the current transaction.

Claims

1. A distributed crypto currency system, comprising:

a non-transitory memory storing a plurality of previous transaction public keys that are each associated with a respective unauthorized crypto currency transfer as a result of a previous transaction;

one or more hardware processors coupled to the memory and operable to read instructions from the memory to perform the steps of;

receiving a payer public key that is associated with a current transaction between a payer and a payee;

determining whether the payer public key is included in the plurality of previous transaction public keys; and

in response to determining that the payer public key is included in the plurality of previous transaction public keys, sending a message to the payee to not proceed with the current transaction.

2. The system of claim 1, wherein the one or more hardware processors are operable to read instructions from the memory to perform the steps of:

in response to determining that the payer public key is not included in the plurality of previous transaction public keys, sending a message to the payee to proceed with the current transaction.

3. The system of claim 1, wherein the one or more processors are operable to read instructions from the memory to perform the steps of:

storing each of the plurality of previous transaction public keys in the non-transitory memory in response to receiving a respective unauthorized crypto currency transfer report for each respective previous transaction.

4. The system of claim 3, wherein each of the plurality of previous transaction public keys are stored in the non-transitory memory following a predetermined time period subsequent to the receiving of the respective unauthorized crypto currency transfer report for each respective previous transaction.

5. The system of claim 3, wherein the one or more hardware processors are operable to read instructions from the memory to perform the steps of:

forwarding each of the plurality of previous transaction public keys to at least one other system provider in response to receiving a respective unauthorized crypto currency transfer report for each respective transaction.

6. The system of claim 1, wherein the one or more hardware processors are operable to read instructions from the memory to perform the steps of:

determining whether the payer public key is associated with one of the plurality of previous transaction public keys by determining, using a crypto currency public ledger, whether the payer public key was involved in a transaction with one of the plurality of previous transaction public keys subsequent to receiving an unauthorized crypto currency transfer report for the one of the plurality of previous transaction public keys;

in response to determining that the payer public key is associated with one of the plurality of previous transaction public keys, sending a message to the payee to not proceed with the current transaction; and

in response to determining that the payer public key is associated with one of the plurality of previous transaction public keys, sending a message to the payee to proceed with the current transaction.

7. A method for providing a distributed crypto currency system, comprising:

receiving, by a system provider device from a payee device over a network, a payer public key that is associated with a current transaction between a payer and a payee;

determining, by the system provider device, whether the payer public key is included in a plurality of previous transaction public keys that are stored in a database and that are that are each associated with a respective unauthorized crypto currency transfer as a result of a previous transaction; and

in response to determining that the payer public key is included in the plurality of previous transaction public keys, sending, by the system provider device to the payee device over the network, a message to the payee to not proceed with the current transaction.

8. The method of claim 7, further comprising:

in response to determining that the payer public key is not included in the plurality of previous transaction public keys, sending, by the system provider device to the payee device over the network, a message to the payee to proceed with the current transaction.

9. The method of claim 8, further comprising:

storing at least one of the plurality of previous transaction public keys in the database in response to receiving, by the system provider device over the network, an unauthorized crypto currency transfer report for the respective previous transaction for the at least one of the plurality of previous transaction public key.

10. The method of claim 9, wherein the at least one of the plurality of previous transaction public keys are stored in the database following a minimum time period subsequent to the respective previous transaction for the at least one of the plurality of previous transaction public key.

11. The method of claim 9, further comprising:

forwarding, by the system provider device over the network to a plurality of other system provider devices, the at least one of the plurality of previous transaction public keys in response to receiving the respective unauthorized crypto currency transfer report for the respective previous transaction for the at least one of the plurality of previous transaction public key.

12. The method of claim 7, further comprising:

determining, by the system provider device, whether the payer public key is associated with one of the plurality of previous transaction public keys by determining, using a crypto currency public ledger, whether the payer public key was involved in a transaction with one of the plurality of previous transaction public keys subsequent to receiving an unauthorized crypto currency transfer report for the one of the plurality of previous transaction public keys;

in response to determining that the payer public key is associated with one of the plurality of previous transaction public keys, sending, by the system provider device to the payee device over the network, a message to the payee to not proceed with the current transaction; and

in response to determining that the payer public key is associated with one of the plurality of previous transaction public keys, sending, by the system provider device to the payee device over the network, a message to the payee to proceed with the current transaction.

13. The method of claim 7, further comprising:

facilitating, by the system provider device, a crypto currency transfer between the payer and a user that provided an unauthorized crypto currency transfer report that is associated with the payer public key.

14. A non-transitory computer-readable medium comprising instructions which, in response to execution by a computer system, cause the computer system to perform a method comprising:

receiving a payer public key that is associated with a current transaction between a payer and a payee;

determining whether the payer public key is included in a plurality of previous transaction public keys that are each associated with a respective unauthorized crypto currency transfer as a result of a previous transaction; and

in response to determining that the payer public key is included in the plurality of previous transaction public keys, sending a message to the payee to not proceed with the current transaction.

15. The non-transitory machine-readable medium of claim 14, wherein the method further comprises:

in response to determining that the payer public key is not included in the plurality of previous transaction public keys, sending a message to the payee to proceed with the current transaction.

16. The non-transitory machine-readable medium of claim 15, wherein the method further comprises:

storing identifiers for each of the plurality of previous transaction public keys in the database in response to receiving a respective unauthorized crypto currency transfer report for each respective previous transaction.

17. The non-transitory machine-readable medium of claim 16, wherein the identifiers for each of the plurality of previous transaction public keys in the crypto currency ledger are stored in the database following a predetermined time period subsequent to the receiving of the respective unauthorized crypto currency transfer report for each respective previous transaction.

18. The non-transitory machine-readable medium of claim 16, wherein the method further comprises:

forwarding each of the plurality of previous transaction public keys to at least one other system provider.

19. The non-transitory machine-readable medium of claim 14, wherein:

determining whether the payer public key is associated with one of the plurality of previous transaction public keys by determining, using a crypto currency public ledger, whether the payer public key was involved in a transaction with one of the plurality of previous transaction public keys subsequent to receiving an unauthorized crypto currency transfer report for the one of the plurality of previous transaction public keys;

in response to determining that the payer public key is associated with one of the plurality of previous transaction public keys, sending a message to the payee to not proceed with the current transaction; and

in response to determining that the payer public key is associated with one of the plurality of previous transaction public keys, sending a message to the payee to proceed with the current transaction.

20. The non-transitory machine-readable medium of claim 14, wherein the method further comprises:

facilitating a crypto currency transfer between the payer and a user that provided an unauthorized crypto currency transfer report for the current transaction public key, wherein the crypto currency transfer is a reduced percentage of a previous transaction crypto currency transfer associated with the unauthorized crypto currency transfer report.