Related papers: SoK: Decentralized Finance (DeFi) Attacks
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…
Cross-chain bridges are essential decentralized applications (DApps) to facilitate interoperability between different blockchain networks. Unlike regular DApps, the functionality of cross-chain bridges relies on the collaboration of…
Decentralized Finance (DeFi) staking is one of the most prominent applications within the DeFi ecosystem, where DeFi projects enable users to stake tokens on the platform and reward participants with additional tokens. However, logical…
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…
Decentralized Autonomous Organizations (DAOs) have emerged as a novel governance mechanism in blockchain ecosystems, particularly within Decentralized Finance (DeFi). By enabling token holders to propose and vote on protocol changes, these…
Decentralization has been touted as the principal security advantage which propelled blockchain systems at the forefront of developments in the financial technology space. Its exact semantics nevertheless remain highly contested and…
How will Decentralized Finance transform financial services? Using New Institutional Economics and Dynamic Capabilities Theory, I analyse survey data from 109 experts using non-parametric methods. Experts span traditional finance, DeFi…
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…
In recent years, the Decentralized Finance (DeFi) market has witnessed numerous attacks on the price oracle, leading to substantial economic losses. Despite the advent of truth discovery methods opening up new avenues for oracle…
We identify the slow liquidity drain (SLID) scam, an insidious and highly profitable threat to decentralized finance (DeFi), posing a large-scale, persistent, and growing risk to the ecosystem. Unlike traditional scams such as rug pulls or…
Denial of Service (DoS) attacks are a growing threat in network services. The frequency and intensity of DoS attacks are rapidly increasing day by day. The immense financial potential of the Cryptocurrency market is a prevalent target of…
Decentralized Finance (DeFi), in which digital assets are exchanged without trusted intermediaries, has grown rapidly in value in recent years. The global DeFi ecosystem is fragmented into multiple blockchains, fueling the demand for…
The prosperity of Decentralized Finance (DeFi) unveils underlying risks, with reported losses surpassing 3.2 billion USD between 2018 and 2022 due to vulnerabilities in Decentralized Applications (DApps). One significant threat is the Price…
Cross-chain bridges are solutions that enable interoperability between heterogeneous blockchains. In contrast to the underlying blockchains, the bridges often provide inferior security guarantees and have been targets of hacks causing…
The advent of smart contracts has enabled the rapid rise of Decentralized Finance (DeFi) on the Ethereum blockchain, offering substantial rewards in financial innovation and inclusivity. This growth, however, is accompanied by significant…
Decentralized Finance (DeFi) on Ethereum has undergone significant transformations since its emergence during the DeFi summer of 2020. With the introduction of Proof of Stake (PoS) and Proposer-Builder Separation (PBS), the transaction…
Flash Loan, as an emerging service in the decentralized finance ecosystem, allows users to request a non-collateral loan. While providing convenience, it also enables attackers to launch malicious operations with a large amount of asset…
Blockchain technology relies on decentralization to resist faults and attacks while operating without trusted intermediaries. Although industry experts have touted decentralization as central to their promise and disruptive potential, it is…
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.…
Between 2021 and 2023, crypto assets valued at over \$US2.6 billion were stolen via attacks on "bridges" -- decentralized services designed to allow inter-blockchain exchange. While the individual exploits in each attack vary, a single…