10.25673/122137">


Proceedings of International Conference on Applied Innovation in IT
2025/08/29, Volume 13, Issue 4, pp.341-348

BFTM: Blockchain-Based MFA Framework for Secure Financial Transfers


Maha Alwan Alteef and Maytham Mustafa Hammood


Abstract: This paper proposes a blockchain-based multi-factor authentication (BMFA) framework designed to enhance the security of financial operations in decentralized systems. Most authentication methods are still vulnerable to phishing, getting SIM cards switched, and stealing your credentials. By utilizing TOTP and a blockchain platform called Ganache with Ethereum support, wallet owners are allowed to confirm and perform transactions in a reliable, decentralized method. It adds main features for users, so they can declare, cancel, or reject transactions on their end, which makes the process more reliable and gives users the right to be involved. A Flask server off the blockchain manages the user signup and login, and generates TOTP codes for the Google Authenticator app, while Web3.js enables easy communication online with the network. A total of 50 MetaMask wallets were subjected to strict tests created to imitate phishing schemes and server breaches. The framework showed it is fully reliable, as it stopped every unauthorized transaction that occurred. Besides that, it completed a transaction in an average of 1.2 seconds and handled up to 25 transactions each second in controlled tests. The work suggests a powerful, unbreakable, and user-friendly setup for ensuring safety in digital asset transactions in networks not controlled by a single authority.

Keywords: Blockchain Authentication, Decentralized MFA, TOTP Verification, Secure Fund Transfers.

DOI: 10.25673/122137

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