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SoK: Decentralized Finance (DeFi) Attacks
Zhou, Liyi1,2; Xiong, Xihan1; Ernstberger, Jens2,3; Chaliasos, Stefanos1; Wang, Zhipeng1; Wang, Ye4; Qin, Kaihua1,2; Wattenhofer, Roger5; Song, Dawn2,6; Gervais, Arthur2,7
2023-07-21
Conference NameIEEE Symposium on Security and Privacy
Source PublicationProceedings - IEEE Symposium on Security and Privacy
Volume2023-May
Pages2444-2461
Conference Date21-25 May 2023
Conference PlaceSan Francisco
CountryUSA
PublisherIEEE
Abstract

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 impactful incidents. According to our data, users, liquidity providers, speculators, and protocol operators suffered a total loss of at least 3.24 billion USD from Apr 30, 2018 to Apr 30, 2022. Given the blockchain's transparency and increasing incident frequency, two questions arise: How can we systematically measure, evaluate, and compare DeFi incidents? How can we learn from past attacks to strengthen DeFi security?In this paper, we introduce a common reference frame to systematically evaluate and compare DeFi incidents, including both attacks and accidents. We investigate 77 academic papers, 30 audit reports, and 181 real-world incidents. Our data reveals several gaps between academia and the practitioners' community. For example, few academic papers address "price oracle attacks"and "permissonless interactions", while our data suggests that they are the two most frequent incident types (15% and 10.5% correspondingly). We also investigate potential defenses, and find that: (i) 103 (56%) of the attacks are not executed atomically, granting a rescue time frame for defenders; (ii) bytecode similarity analysis can at least detect 31 vulnerable/23 adversarial contracts; and (iii) 33 (15.3%) of the adversaries leak potentially identifiable information by interacting with centralized exchanges.

KeywordModel Fit
DOI10.1109/SP46215.2023.10179435
URLView the original
Indexed ByCPCI-S
Language英語English
WOS Research AreaComputer Science
WOS SubjectComputer Science, Information Systems ; Computer Science, Theory & Methods
WOS IDWOS:001035501502028
Scopus ID2-s2.0-85166486256
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Document TypeConference paper
CollectionDEPARTMENT OF COMPUTER AND INFORMATION SCIENCE
Corresponding AuthorZhou, Liyi
Affiliation1.Imperial College London, United Kingdom
2.Berkeley Center for Responsible, Decentralized Intelligence (RDI), United States
3.Technical University of Munich, Switzerland
4.University of Macau, Macao
5.ETH Zurich, Switzerland
6.University of California, Berkeley, United States
7.University College London, United Kingdom
Recommended Citation
GB/T 7714
Zhou, Liyi,Xiong, Xihan,Ernstberger, Jens,et al. SoK: Decentralized Finance (DeFi) Attacks[C]:IEEE, 2023, 2444-2461.
APA Zhou, Liyi., Xiong, Xihan., Ernstberger, Jens., Chaliasos, Stefanos., Wang, Zhipeng., Wang, Ye., Qin, Kaihua., Wattenhofer, Roger., Song, Dawn., & Gervais, Arthur (2023). SoK: Decentralized Finance (DeFi) Attacks. Proceedings - IEEE Symposium on Security and Privacy, 2023-May, 2444-2461.
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