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DeFi (Decentralized Finance) is one of the most important applications of today's cryptocurrencies and smart contracts. It manages hundreds of billions in Total Value Locked (TVL) on-chain, yet it remains susceptible to common DeFi price…

Cryptography and Security · Computer Science 2025-10-28 Juantao Zhong , Daoyuan Wu , Ye Liu , Maoyi Xie , Yang Liu , Yi Li , Ning Liu

Price manipulation attack is one of the notorious threats in decentralized finance (DeFi) applications, which allows attackers to exchange tokens at an extensively deviated price from the market. Existing efforts usually rely on reactive…

Cryptography and Security · Computer Science 2025-02-07 Bosi Zhang , Ningyu He , Xiaohui Hu , Kai Ma , Haoyu Wang

The rise of Decentralized Finance (DeFi) has brought novel financial opportunities but also exposed serious security vulnerabilities, with flash loans frequently exploited for price manipulation attacks. These attacks, leveraging the atomic…

Cryptography and Security · Computer Science 2025-02-25 Ka Wai Wu

Decentralized Finance (DeFi) is emerging as a peer-to-peer financial ecosystem, enabling participants to trade products on a permissionless blockchain. Built on blockchain and smart contracts, the DeFi ecosystem has experienced explosive…

Cryptography and Security · Computer Science 2023-09-07 Peng Qian , Rui Cao , Zhenguang Liu , Wenqing Li , Ming Li , Lun Zhang , Yufeng Xu , Jianhai Chen , Qinming He

Decentralized finance (DeFi) protocols are crypto projects developed on the blockchain to manage digital assets. Attacks on DeFi have been frequent and have resulted in losses exceeding $80 billion. Current tools detect and locate possible…

Cryptography and Security · Computer Science 2025-11-04 Xiaoqi Li , Wenkai Li , Zhiquan Liu , Yuqing Zhang , Yingjie Mao

Decentralized finance (DeFi) protocols are crypto projects developed on the blockchain to manage digital assets. Attacks on DeFi have been frequent and have resulted in losses exceeding \$77 billion. However, detection methods for malicious…

Cryptography and Security · Computer Science 2024-05-21 Wenkai Li , Xiaoqi Li , Yuqing Zhang , Zongwei Li

Decentralized finance, i.e., DeFi, has become the most popular type of application on many public blockchains (e.g., Ethereum) in recent years. Compared to the traditional finance, DeFi allows customers to flexibly participate in diverse…

Cryptography and Security · Computer Science 2021-03-05 Bin Wang , Han Liu , Chao Liu , Zhiqiang Yang , Qian Ren , Huixuan Zheng , Hong Lei

Since the inception of permissionless blockchains with Bitcoin in 2008, it became apparent that their most well-suited use case is related to making the financial system and its advantages available to everyone seamlessly without depending…

General Finance · Quantitative Finance 2023-06-16 Georgios Palaiokrassas , Sandro Scherrers , Iason Ofeidis , Leandros Tassiulas

Smart contracts in Decentralized Finance (DeFi) platforms are attractive targets for attacks as their vulnerabilities can lead to massive amounts of financial losses. Flash loan attacks, in particular, pose a major threat to DeFi protocols…

Cryptography and Security · Computer Science 2025-03-05 Abdulrahman Alhaidari , Balaji Palanisamy , Prashant Krishnamurthy

Decentralized finance (DeFi) in Ethereum is a financial ecosystem built on the blockchain that has locked over 200 billion USD until April 2022. All transaction information is transparent and open when transacting through the DeFi protocol,…

Cryptography and Security · Computer Science 2022-05-20 Wenkai Li , Jiuyang Bu , Xiaoqi Li , Xianyi Chen

Decentralized finance (DeFi) applications depend on accurate price oracles to ensure secure transactions, yet these oracles are highly vulnerable to manipulation, enabling attackers to exploit smart contract vulnerabilities for unfair asset…

Cryptography and Security · Computer Science 2025-02-12 Bo Gao , Yuan Wang , Qingsong Wei , Yong Liu , Rick Siow Mong Goh , David Lo

DEX, or decentralized exchange, is a prominent class of decentralized finance (DeFi) applications on blockchains, attracting a total locked value worth tens of billions of USD today. This paper presents the first large-scale empirical study…

Cryptography and Security · Computer Science 2024-01-23 Jiaqi Chen , Yibo Wang , Yuxuan Zhou , Wanning Ding , Yuzhe Tang , XiaoFeng Wang , Kai Li

Decentralized Finance (DeFi) is a system of financial products and services built and delivered through smart contracts on various blockchains. In the past year, DeFi has gained popularity and market capitalization. However, it has also…

Machine Learning · Computer Science 2023-05-29 Arianna Trozze , Bennett Kleinberg , Toby Davies

DeFi, or Decentralized Finance, is based on a distributed ledger called blockchain technology. Using blockchain, DeFi may customize the execution of predetermined operations between parties. The DeFi system use blockchain technology to…

Cryptography and Security · Computer Science 2023-04-27 Wenkai Li , Jiuyang Bu , Xiaoqi Li , Hongli Peng , Yuanzheng Niu , Yuqing Zhang

Fraud across the decentralized finance (DeFi) ecosystem is growing, with victims losing billions to DeFi scams every year. However, there is a disconnect between the reported value of these scams and associated legal prosecutions. We use…

Cryptography and Security · Computer Science 2023-05-29 Arianna Trozze , Toby Davies , Bennett Kleinberg

Decentralized Finance (DeFi) smart contracts manage billions of dollars, making them a prime target for exploits. Price manipulation vulnerabilities, often via flash loans, are a devastating class of attacks causing significant financial…

Cryptography and Security · Computer Science 2026-04-30 Lu Liu , Wuqi Zhang , Lili Wei , Hao Guan , Yongqiang Tian , Yepang Liu , Shing-Chi Cheung

Decentralized Finance (DeFi) took shape in 2020. An unprecedented amount of over 14 billion USD moved into DeFi projects offering trading, loans and insurance. But its growth has also drawn the attention of malicious actors. Many projects…

Cryptography and Security · Computer Science 2021-06-22 Kris Oosthoek

Within just four years, the blockchain-based Decentralized Finance (DeFi) ecosystem has accumulated a peak total value locked (TVL) of more than 253 billion USD. This surge in DeFi's popularity has, unfortunately, been accompanied by many…

Cryptography and Security · Computer Science 2023-04-11 Liyi Zhou , Xihan Xiong , Jens Ernstberger , Stefanos Chaliasos , Zhipeng Wang , Ye Wang , Kaihua Qin , Roger Wattenhofer , Dawn Song , Arthur Gervais

Cryptocurrency has seen an explosive growth in recent years, thanks to the evolvement of blockchain technology and its economic ecosystem. Besides Bitcoin, thousands of cryptocurrencies have been distributed on blockchains, while hundreds…

Cryptography and Security · Computer Science 2020-06-12 Ru Ji , Ningyu He , Lei Wu , Haoyu Wang , Guangdong Bai , Yao Guo

The exploitation of smart contract vulnerabilities in Decentralized Finance (DeFi) has resulted in financial losses exceeding 3 billion US dollars. Existing defense mechanisms primarily focus on detecting and reacting to adversarial…

Cryptography and Security · Computer Science 2025-04-22 Shoupeng Ren , Lipeng He , Tianyu Tu , Di Wu , Jian Liu , Kui Ren , Chun Chen
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