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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

Decentralized Finance (DeFi) offers a whole new investment experience and has quickly emerged as an enticing alternative to Centralized Finance (CeFi). Rapidly growing market size and active users, however, have also made DeFi a lucrative…

Cryptography and Security · Computer Science 2024-06-25 Mingyi Liu , Jun Ho Huh , HyungSeok Han , Jaehyuk Lee , Jihae Ahn , Frank Li , Hyoungshick Kim , Taesoo Kim

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) 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

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

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) 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…

Cryptography and Security · Computer Science 2025-01-23 Catherine Carpentier-Desjardins , Masarah Paquet-Clouston , Stefan Kitzler , Bernhard Haslhofer

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

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…

Cryptography and Security · Computer Science 2023-05-22 Kushal Babel , Philip Daian , Mahimna Kelkar , Ari Juels

Systemic risk refers to the overall vulnerability arising from the high degree of interconnectedness and interdependence within the financial system. In the rapidly developing decentralized finance (DeFi) ecosystem, numerous studies have…

Risk Management · Quantitative Finance 2026-01-14 Shiyu Zhang , Zining Wang , Jin Zheng , John Cartlidge

Decentralised Finance (DeFi) applications constitute an entire financial ecosystem deployed on blockchains. Such applications are based on complex protocols and incentive mechanisms whose financial safety is hard to determine. Besides,…

Software Engineering · Computer Science 2022-09-19 Massimo Bartoletti , James Chiang , Tommi Junttila , Alberto Lluch Lafuente , Massimiliano Mirelli , Andrea Vandin

Decentralized Finance (DeFi) is a prominent application of smart contracts, representing a novel financial paradigm in contrast to centralized finance. While DeFi applications are rapidly emerging on mainstream blockchain platforms, their…

Software Engineering · Computer Science 2024-01-12 Wei Ma , Chenguang Zhu , Ye Liu , Xiaofei Xie , Yi Li

Decentralized finance (DeFi) protocols now intermediate over USD 100 billion in value, including regulated stablecoins and tokenized assets deployed as collateral, yet no widely adopted framework operationalizes risk assessment at the rigor…

Distributed, Parallel, and Cluster Computing · Computer Science 2026-05-07 Eva Oberholzer , Valeriy Zamaraiev

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

Decentralized Finance (DeFi) attacks have resulted in significant losses, often orchestrated through Adversarial Exploiter Contracts (AECs) that exploit vulnerabilities in victim smart contracts. To proactively identify such threats, this…

Cryptography and Security · Computer Science 2025-09-09 Xng Ai , Shudan Lin , Zecheng Li , Kai Zhou , Bixin Li , Bin Xiao

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

Traditional security scanners fail when facing new attack patterns they haven't seen before. They rely on fixed rules and predetermined signatures, making them blind to novel threats. We present a fundamentally different approach: instead…

Cryptography and Security · Computer Science 2025-11-21 Ayush Chaudhary

In recent years, blockchain technology has introduced decentralized finance (DeFi) as an alternative to traditional financial systems. DeFi aims to create a transparent and efficient financial ecosystem using smart contracts and emerging…

Computational Engineering, Finance, and Science · Computer Science 2024-03-14 Bingqiao Luo , Zhen Zhang , Qian Wang , Anli Ke , Shengliang Lu , Bingsheng He

The rapid growth of Decentralized Finance (DeFi) boosts the Ethereum ecosystem. At the same time, attacks towards DeFi applications (apps) are increasing. However, to the best of our knowledge, existing smart contract vulnerability…

Cryptography and Security · Computer Science 2021-05-03 Siwei Wu , Dabao Wang , Jianting He , Yajin Zhou , Lei Wu , Xingliang Yuan , Qinming He , Kui Ren

Decentralized Finance (DeFi) is a new paradigm in the creation, distribution, and utilization of financial services via the integration of blockchain technology. Our research conducts a comprehensive introduction and meticulous…

Cryptography and Security · Computer Science 2023-12-04 Erya Jiang , Bo Qin , Qin Wang , Zhipeng Wang , Qianhong Wu , Jian Weng , Xinyu Li , Chenyang Wang , Yuhang Ding , Yanran Zhang
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