Title: Understanding Cryptocurrency Vulnerabilities: A Descriptive Analytics Approach to Digital Asset Security Analyzing the Frequency, Impact, and Trends of Security Breaches in the Cryptocurrency Ecosystem
Authors: Paul John DC. Cabance
Volume: 8
Issue: 11
Pages: 57-67
Publication Date: 2024/11/28
Abstract:
Cryptocurrency is quickly becoming integrated into financial systems all over the world, but since it is a decentralized form of currency that is still relatively unregulated, is has proved to be highly vulnerable to security threats. In this research, descriptive analytics are used to assess and categorize the threats that exist in the cryptocurrency space and classify them based on source data, in terms of common and emerging threat patterns. This approach allows this research to identify trends and susceptibility of attacks such as those targeting exchanges, wallets, and blockchain networks, hacks, phishing, and fraud. The results indicated the specific event and the degree of market variability. This supports the observation of high variability in the security breaches in terms of seasonality. The findings highlight a call to improve the protections of digital assets and the design of future regulatory standards