US 10,255,600 B2Granted

Cryptocurrency offline vault storage system

AssigneeBank of America Corporation

InventorsJames G. Ronca, Joseph B. Castinado, Heather Dolan, Thomas E. Durbin

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Abstract

A system includes a memory that may store a customer account associated with a customer and a processor communicatively coupled to the memory. The processor is able to receive a request to deposit a quantity of cryptocurrency into the customer account and associate the quantity of cryptocurrency with the customer account. The processor is also able to deposit the quantity of cryptocurrency into a vault connected to a network and determine a total quantity of cryptocurrency deposited into the vault. The processor may also, in response to determining the total quantity of cryptocurrency deposited into the vault exceeds a threshold, facilitate the disconnection of the vault from the network.

Claims15

Dependent claims

A system comprising:

a memory operable to store a customer account associated with a customer;
and
a processor communicatively coupled to the memory, the memory including executable instructions that upon execution cause the system to:
receive a request to deposit a quantity of cryptocurrency into the customer account;
associate the quantity of cryptocurrency with the customer account;
deposit the quantity of cryptocurrency into a vault connected to a network;
store one or more private keys associated with the quantity of cryptocurrency into the vault, wherein the one or more private keys are encrypted using a hash function;
determine a total quantity of cryptocurrency deposited into the vault;
in response to determining the total quantity of cryptocurrency deposited into the vault exceeds a threshold, facilitate the disconnection of the vault from the network;
identify a cryptocurrency transaction that is performed using a private key;
determine that the private key associated with the cryptocurrency transaction matches a private key that is stored in the vault;
in response to determining that the private key associated with the cryptocurrency transaction matches a private key that is stored in the vault, determine that the transaction is potentially a fraudulent transaction;
and
in response to determining that the transaction is potentially a fraudulent transaction, flag the requested transaction as potentially fraudulent.

11 more elements

A method comprising:

storing a customer account associated with a customer;
receiving a request to deposit a quantity of cryptocurrency into the customer account;
associating the quantity of cryptocurrency with the customer account;
depositing the quantity of cryptocurrency into a vault connected to a network;
storing one or more private keys associated with the quantity of cryptocurrency into the vault, wherein the one or more private keys are encrypted using a hash function;
determining a total quantity of cryptocurrency deposited into the vault;
in response to determining the total quantity of cryptocurrency deposited into the vault exceeds a threshold, facilitating the disconnection of the vault from the network;
identifying a cryptocurrency transaction that is performed using a private key;
determining that the private key associated with the cryptocurrency transaction matches a private key that is stored in the vault;
in response to determining that the private key associated with the cryptocurrency transaction matches a private key that is stored in the vault, determining that the transaction is potentially a fraudulent transaction;
and
in response to determining that the transaction is potentially a fraudulent transaction, flagging the requested transaction as potentially fraudulent.

9 more elements

A system comprising:

a vault;
and
a server comprising:
a memory operable to store a customer account associated with a customer;
a network interface communicatively coupled to the vault;
and
a processor communicatively coupled to the memory, the memory including executable instructions that upon execution cause the system to:
receive a request to deposit a quantity of cryptocurrency into the customer account;
associate the quantity of cryptocurrency with the customer account;
deposit the quantity of cryptocurrency into the vault;
store one or more private keys associated with the quantity of cryptocurrency into the vault, wherein the one or more private keys are encrypted using a hash function;
determine a total quantity of cryptocurrency deposited into the vault;
in response to determining the total quantity of cryptocurrency deposited into the vault exceeds a threshold, facilitate the disconnection of the vault from the network interface;
identify a cryptocurrency transaction that is performed using a private key;
determine that the private key associated with the cryptocurrency transaction matches a private key that is stored in the vault;
in response to determining that the private key associated with the cryptocurrency transaction matches a private key that is stored in the vault, determine that the transaction is potentially a fraudulent transaction;
and
in response to determining that the transaction is potentially a fraudulent transaction, flag the requested transaction as potentially fraudulent.

15 more elements

Dependencies are inferred from the claim text.

Facts

Application: 14/306,158Filed 16 Jun 2014
Published: US 2015/0365283 A117 Dec 2015
Granted: 9 Apr 2019
Term ends: Not estimatedThe source records don’t support an estimate.

Classification13 codes

G06Q 20/3829
Insuring higher security of transaction: involving key management
G06Q 20/065
Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme: using e-cash
G06Q 20/10
Payment architectures: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
G06Q 20/36
Characterised by the use of specific devices or networks: using electronic wallets or electronic money safes