Related papers: BLOCKEYE: Hunting For DeFi Attacks on Blockchain
Complex DeFi services are usually constructed by composing a variety of simpler smart contracts. The permissionless nature of the blockchains where these smart contracts are executed makes DeFi services exposed to security risks, since…
Reentrancy, a notorious vulnerability in smart contracts, has led to millions of dollars in financial loss. However, current smart contract vulnerability detection tools suffer from a high false positive rate in identifying contracts with…
Credit exposure in Decentralized Finance (DeFi) is often implicit and token-mediated, creating a dense web of inter-protocol dependencies. Thus, a shock to one token may result in significant and uncontrolled contagion effects. As the DeFi…
Decentralized finance (DeFi) lacks centralized oversight, often resulting in heightened volatility. In contrast, centralized finance (CeFi) offers a more stable environment with institutional safeguards. Institutional backing can play a…
Decentralized finance (DeFi) has been the target of numerous profit-driven crimes, but the prevalence and cumulative impact of these crimes have not yet been assessed. This study provides a comprehensive assessment of profit-driven crimes…
In recent years, smart contracts have suffered major exploits, costing millions of dollars. Unlike traditional programs, smart contracts are deployed on a blockchain. As such, they cannot be modified once deployed. Though various tools have…
The number of attacks and accidents leading to significant losses of crypto-assets is growing. According to Chainalysis, in 2021, approx. $14 billion has been lost due to various incidents, and this number is dominated by Decentralized…
Banking as an essential service can be hard to access in remote, rural regions where the network connectivity is intermittent. Although micro-banking has been made possible by SMS or USSD messages in some places, their security flaws and…
We explore the adoption of graph representation learning (GRL) algorithms to investigate similarities across services offered by Decentralized Finance (DeFi) protocols. Following existing literature, we use Ethereum transaction data to…
In blockchains such as Bitcoin and Ethereum, transactions represent the primary mechanism that the external world can use to trigger a change of blockchain state. Transactions serve as key sources of evidence and play a vital role in…
With the rapid growth of blockchain, an increasing number of users have been attracted and many implementations have been refreshed in different fields. Especially in the cryptocurrency investment field, blockchain technology has shown…
We introduce the Clockwork Finance Framework (CFF), a general purpose, formal verification framework for mechanized reasoning about the economic security properties of composed decentralized-finance (DeFi) smart contracts. CFF features…
With the increase of the adoption of blockchain technology in providing decentralized solutions to various problems, smart contracts have become more popular to the point that billions of US Dollars are currently exchanged every day through…
Decentralized finance (DeFi) markets spread across Layer-1 (L1) and Layer-2 (L2) blockchains rely on arbitrage to keep prices aligned. Today most price gaps are closed against centralized exchanges (CEXes), whose deep liquidity and fast…
Artificial Intelligence (AI) has the potential to significantly benefit or harm humanity. At present, a few for-profit companies largely control the development and use of this technology, and therefore determine its outcomes. In an effort…
Decentralized applications (dApps) in Decentralized Finance (DeFi) face a fundamental tension between regulatory compliance requirements like Know Your Customer (KYC) and maintaining decentralization and privacy. Existing permissioned DeFi…
Front-running attacks have been a major concern on the blockchain. Attackers launch front-running attacks by inserting additional transactions before upcoming victim transactions to manipulate victim transaction executions and make profits.…
With the ever-increasing popularity of blockchain applications, securing blockchain networks plays a critical role in these cyber systems. In this paper, we first study cyberattacks (e.g., flooding of transactions, brute pass) in blockchain…
Decentralized financial (DeFi) applications on the Ethereum blockchain are highly interoperable because they share a single state in a deterministic computational environment. Stakeholders can deposit claims on assets, referred to as…
Blockchain introduces decentralized trust in peer-to-peer networks, advancing security and democratizing systems. Yet, a unified definition for decentralization remains elusive. Our Systematization of Knowledge (SoK) seeks to bridge this…