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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

Decentralized applications are often composed of multiple interconnected smart contracts. This is especially evident in DeFi, where protocols are heavily intertwined and rely on a variety of basic building blocks such as tokens,…

Cryptography and Security · Computer Science 2025-05-27 Emily Priyadarshini , Massimo Bartoletti

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.…

Software Engineering · Computer Science 2023-05-04 Wuqi Zhang , Lili Wei , Shing-Chi Cheung , Yepang Liu , Shuqing Li , Lu Liu , Michael R. Lyu

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

The meteoric rise of Decentralized Finance (DeFi) has been accompanied by a plethora of frequent and often financially devastating attacks on its protocols There have been over 70 exploits of DeFi protocols, with the total of lost funds…

Cryptography and Security · Computer Science 2022-02-01 Daniel Perez , Lewis Gudgeon

As blockchain ecosystems grow, financially motivated attackers increasingly exploit decentralized finance (DeFi) protocols, causing frequent and severe losses. Unlike conventional cyberattacks, DeFi exploits propagate rapidly due to the…

Cryptography and Security · Computer Science 2026-04-30 Bowen Cai , Weiheng Bai , Youshui Lu , Haoran Xu , Yuannan Yang , Yajin Zhou , Kangjie Lu

The evolving landscape of Decentralized Finance (DeFi) has raised critical security concerns, especially pertaining to Protocols for Loanable Funds (PLFs) and their dependency on price oracles, which are susceptible to manipulation. The…

Cryptography and Security · Computer Science 2024-01-17 Sanidhay Arora , Yingjiu Li , Yebo Feng , Jiahua Xu

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

Billions of dollars are lost every year in DeFi platforms by transactions exploiting business logic or accounting vulnerabilities. Existing defenses focus on static code analysis, public mempool screening, attacker contract detection, or…

Cryptography and Security · Computer Science 2025-10-21 Abdulrahman Alhaidari , Balaji Palanisamy , Prashant Krishnamurthy

Blockchain adoption has surged with the rise of Decentralized Finance (DeFi) applications. However, the significant value of digital assets managed by DeFi protocols makes them prime targets for attacks. Current smart contract vulnerability…

Cryptography and Security · Computer Science 2024-11-21 Hongbo Wen , Hanzhi Liu , Jiaxin Song , Yanju Chen , Wenbo Guo , Yu Feng

The financial sector's adoption of technology-driven data analysis has enhanced operational efficiency and revenue generation by leveraging personal sensitive data. However, the inherent characteristics of blockchain hinder decentralized…

Cryptography and Security · Computer Science 2023-11-13 Zhuangtong Huang , Jiawei Zhu , Zhongyu Huang , Yixin Xu , Jerome Yen , Ye Wang

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

Recently, the birth of non-fungible tokens (NFTs) has attracted great attention. NFTs are capable of representing users' ownership on the blockchain and have experienced tremendous market sales due to their popularity. Unfortunately, the…

Software Engineering · Computer Science 2023-08-07 Shuo Yang , Jiachi Chen , Zibin Zheng

Decentralized cryptocurrencies feature the use of blockchain to transfer values among peers on networks without central agency. Smart contracts are programs running on top of the blockchain consensus protocol to enable people make…

Software Engineering · Computer Science 2018-08-06 Bo Jiang , Ye Liu , W. K. Chan

This paper presents OVer, a framework designed to automatically analyze the behavior of decentralized finance (DeFi) protocols when subjected to a "skewed" oracle input. OVer firstly performs symbolic analysis on the given contract and…

Software Engineering · Computer Science 2024-01-12 Xun Deng , Sidi Mohamed Beillahi , Cyrus Minwalla , Han Du , Andreas Veneris , Fan Long

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…

Cryptography and Security · Computer Science 2023-01-24 Feng Mi , Chen Zhao , Zhuoyi Wang , Sadaf MD Halim , Xiaodi Li , Zhouxiang Wu , Latifur Khan , Bhavani Thuraisingham

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) 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…

Software Engineering · Computer Science 2026-01-12 Zewei Lin , Jiachi Chen , Jingwen Zhang , Zexu Wang , Yuming Feng , Weizhe Zhang , Zibin Zheng

An increasing number of DeFi protocols are gaining popularity, facilitating transactions among multiple anonymous users. State Manipulation is one of the notorious attacks in DeFi smart contracts, with price variable being the most commonly…

Software Engineering · Computer Science 2025-06-12 Hao Wu , Haijun Wang , Shangwang Li , Yin Wu , Ming Fan , Yitao Zhao , Ting Liu

Ethereum smart contracts are programs that can be collectively executed by a network of mutually untrusted nodes. Smart contracts handle and transfer assets of values, offering strong incentives for malicious attacks. Intrusion attacks are…

Software Engineering · Computer Science 2019-11-28 Xinming Wang , Jiahao He , Zhijian Xie , Gansen Zhao , Shing-Chi Cheung