An empirical analysis of blockchain cybersecurity incidents

Ayman Alkhalifah, Alex Ng, Mohammad Jabed Morshed Chowdhury, A. S.M. Kayes, Paul A. Watters

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contributionpeer-review

10 Citations (Scopus)

Abstract

The establishment of Bitcoin in 2008 has introduced Blockchain technology to become the predominant new ways in digital transactions in many fields, such as energy, healthcare, and financial services. Although blockchain technology promised many advantages, it has suffered from various attacks with significant financial loses. We analyse 65 cybersecurity incidents that have been happening on the blockchain networks between 2011 and the first half-year of 2019. We categorize those incidents against the key cybersecurity vulnerabilities in blockchain technology, which showed an upward trend of an increasing number of attacks which dues to lack of security controls in the digital currency exchange and vulnerability in smart contracts. This result of this research highlights the needs in a major overhaul of the blockchain technology.

Original languageEnglish
Title of host publication2019 IEEE Asia-Pacific Conference on Computer Science and Data Engineering, CSDE 2019
Place of PublicationPiscataway, USA
PublisherInstitute of Electrical and Electronics Engineers (IEEE)
Number of pages8
ISBN (Electronic)9781728163031, 9781728163048
DOIs
Publication statusPublished - Dec 2019
Externally publishedYes
Event2019 IEEE Asia-Pacific Conference on Computer Science and Data Engineering, CSDE 2019 - Melbourne, Australia
Duration: 9 Dec 201911 Dec 2019

Conference

Conference2019 IEEE Asia-Pacific Conference on Computer Science and Data Engineering, CSDE 2019
Country/TerritoryAustralia
CityMelbourne
Period9/12/1911/12/19

Keywords

  • Bitcoin
  • Blockchain
  • Cybersecurity
  • Ethereum
  • Risk
  • Smart Contract
  • Threat
  • Vulnerability

Fingerprint

Dive into the research topics of 'An empirical analysis of blockchain cybersecurity incidents'. Together they form a unique fingerprint.

Cite this