Cybersecurity in blockchain technology: Analysis of cyber-attacks on decentralized financial platforms

Abstract

The rise of decentralized applications has propelled blockchain technology to prominence in recent years due to its decentralized, secure nature and ability to facilitate peer-to-peer transactions. Coupled with smart contracts, blockchain has found applications in various sectors, including finance, healthcare, and IoT. The DeFi sector, in particular, has garnered significant attention and investment. As blockchain adoption grows, so do concerns about the cybersecurity of decentralized systems built on this technology. This study delves into the security vulnerabilities of blockchain consensus mechanisms and the source code, providing insights into the cybersecurity challenges facing the DeFi sector.