Survey on Analysis and Countermeasure for Hacking Attacks to Cryptocurrency Exchange

Abstract

As the value of technical information increases, hacking attacks are trying to steal technical information through hacking. Recently, hacking of cryptocurrency exchanges is much easier to monetize than existing technical information, making it a major attack target for hackers. In the case of technical information, it is required to seize the technical information and sell it to the black market for cashing.In the case of cryptocurrency, most hacking attacks are concentrated on cryptocurrency exchanges because it is easy to cash out and not easy to track when successful hacking. Although technology cannot be hacked, cryptocurrency transactions traded on cryptocurrency exchanges are not recorded on the blockchain which is simply internal exchanges, so insiders may manipulate the quotes and leave gaps or leak out. Therefore, this research analyzes the recent hacking attacks of cryptocurrency exchanges and proposes solutions to secure cryptocurrency trading.