Classical Block Withholding (BWH) attacks have been extensively studied in block-dependent reward schemes, where pool members are compensated upon a block discovery within the pool. However, most contemporary mining pools operate under share-based schemes, wherein participants are paid immediately upon submission of valid shares. In this paper, we analyze BWH under Pay-Per-Share (PPS) and Full-PPS (FPPS) schemes for Nakamoto-style blockchains and prove that these mechanisms are not incentive compatible -- contrary to claims in prior literature. Under PPS/FPPS, the optimal strategy for a BWH attacker is the All-out Attack (AoA): the adversary allocates its entire hashpower toward the victim pool, submitting only partial Proof-of-Work shares (pPoW) while withholding all valid blocks, i.e., full Proof-of-Work (fPoW). Prior to the first difficulty adjustment, the adversary incurs negligible loss from withheld fPoWs. After the adjustment reduces block difficulty, the adversary either generates more pPoWs per unit time or, if pPoW difficulty is held fixed, earns a higher reward per share, in both cases achieving a relative gain of $\fracα{1-α}$ over pre-adjustment rates, where $α$ is the adversarial hashpower fraction. Honest miners benefit at the same rate as the adversary per unit hashpower, while the victim pool operator bears all losses, paying out-of-pocket for pPoW submissions without receiving fPoW compensation in return. Finally, advanced BWH variants such as Fork After Withholding (FAW) yield no additional profit under PPS/FPPS.
Ben Hawkins, Joshua Levett, Siamak F. Shahandashti
We present a longitudinal measurement study on the adoption of detectable, second-generation anonymisation protocols in the Bitcoin network, including CoinJoin, CoinSwap, CoinShuffle and Stealth Addresses. By implementing and refining a suite of heuristic filters, we identify over 5.94 million CoinJoin and 23.3 million CoinSwap transactions. Besides, the use of CoinShuffle was unexpectedly found to be closely aligned with the Wasabi wallet operation period. Our analysis reveals consistently low adoption rates, with these protocols constituting less than 1% of network transactions, and a sharp decline in detectable usage following key regulatory events. Furthermore, we find no evidence of standardised Stealth Address adoption, indicating a failure to converge on a common privacy standard. This study provides a comprehensive picture of a niche ecosystem whose on-chain visibility has been largely suppressed, strongly suggesting the migration of privacy-seeking users to less transparent and less detectable methods.
Certification of digital documents, such as academic credentials, seems a particularly suitable application for the use of blockchain and distributed ledger technologies. Indeed, these technologies enable decentralized certification systems that rely on the immutability and persistence of their distributed ledgers. However, in the absence of a central trusted authority, it is not easy to guarantee the authenticity of the connection between the real identity of an academic institution and the digital identity of the certificate issuer. In this paper, we demonstrate that one of such systems, known as Block.co, has a vulnerability that allows the production of forged certificates that are recognized as valid by the system. Since this is an inherent limitation of the approach used for blockchain-based certification, our attack is likely to be extendable to other systems adopting the same approach.
Open access
3 source records
cs.CR
Blockchain Technology Applications and Security
Physical Unclonable Functions (PUFs) and Hardware Security
Despite the promise of decentralization, measurement studies have identified a conspicuous lack of decentralization in blockchains. Centralization has been observed in almost all layers of the blockchain, in decentralized applications, and in decentralized autonomous organizations. In many cases, it is practically impossible to definitively determine the extent of centralization in the system. While multiple works have proposed methods to decrease centralization, by and large blockchains continue to be significantly centralized. In this paper, we develop a general framework for building verifiably decentralized blockchain systems. Our framework is motivated by the core observation that the richness and diversity of collaborative interactions between users -- rather than resource uniformity -- captures the essence and extent of decentralization in a blockchain system. Existing blockchains do not have any incentive mechanisms to encourage inter-coalition collaboration, which directly contributes to centralization. We propose a novel reward design that incentivizes users to collaborate with other users without forming isolated coalitions. Technically, our method uses a Sybil-resistant asymmetric Shapley value for reward attribution within a collaboration group, and the theory of expander graphs for measuring and enforcing decentralization. Our framework is general and can be adapted to alleviate centralization in any layer, application, or decentralized organization. It also has important implications beyond the topic of centralization. For example, we show that our solution can naturally address the blockchain scalability problem. We also identify a new class of decentralized collaborative applications that have hitherto been unexplored in blockchains.
Privacy is one of the fundamental rights of individuals in modern societies. Yet, the practical adoption of privacy-preserving technologies in daily interactions remains limited. Zero-knowledge proofs offer strong privacy guarantees but are often hindered by their technical complexity. In this paper, we advance the idea of verifiable QR codes that enable off-line verifiers to verify proofs encoded in QR codes. Based on this core idea, we build a novel QR-driven zkSNARK proof verification framework (i.e., zQR) for mobile platforms. The framework integrates blockchain for auditability, non-repudiation and logging; and large-language models for automatic circuit generation. We perform a security discussion of the framework by considering multiple attack surfaces. Furthermore, we present an experimental evaluation measuring temporal costs (proof generation and verification latency, QR code encoding and decoding latency) and financial costs (blockchain gas consumption). Our results demonstrate the feasibility of zQR as a proof-of-concept framework for privacy-preserving verification on mobile platform where proofs are compactly represented with QR code symbol version of 19 with low error correction level. Finally, we discuss potential applications, current limitations and future directions for the broader adoption of privacy-preserving technologies in daily interactions.
Decentralized Finance (DeFi) applications rely heavily on the order in which transactions are executed, making them susceptible to reordering attacks that enable adversaries to extract Blockchain Extractable Value (BEV). While linear blockchain systems such as Ethereum have inspired extensive research into fair ordering mechanisms, DAG-based consensus protocols have remained largely unprotected despite their growing adoption for scalability and performance. In this paper, we introduce Tilikum, a DAG-based ledger protocol that ensures fair transaction ordering without relying on weak edges. Tilikum achieves ordering linearizability by leveraging median-based timestamp aggregation, or batch order fairness, while maintaining low data redundancy and robust garbage collection. We implemented Tilikum in Rust and evaluated it against representative baselines, namely Narwhal/Tusk, Pompē, Themis and FairDAG. Our results show that Tilikum achieves up to $39\times$ higher throughput than other fair-ordering baselines, while fully blocking state-of-the-art DAG-specific reordering attacks.
Jintao Huang, Fengqing Jiang, Radha Poovendran, Zhiqiang Lin
We present CyberChainBench, a benchmark for evaluating LLM-based agents on smart contract security across three complementary tasks: vulnerability detection, exploit generation, and patch synthesis. Built from 541 real-world exploit incidents from DeFiHackLabs spanning 9 EVM chains, the benchmark provides end-to-end on-chain evaluation where agents interact with historical blockchain state through isolated evaluation environments orchestrated by Harbor, using tools to read code, trace transactions, and validate exploits on mainnet forks. Each case is anchored to a specific block and includes structured ground truth covering vulnerability type, localization, and attacker profit. Exploits are graded by economic impact on historical forks; patches are validated by replaying historical attacks and legitimate transactions as fail-to-pass test oracles on a proxy-upgradeable subset. We define a five-type vulnerability taxonomy and evaluate multiple agent--model configurations. Results reveal a clear difficulty gradient: the best configuration scores 37.5% on detection, 43.7% on exploitation, but only 23.4% on patching, with the top agent (Codex with GPT-5.5) realizing \$57.4M in total exploit profit across the 200-case exploit set at a cost of $2.39 per case.
Sepideh Avizheh, Reihaneh Safavi-Naini, Shiwei Sun
Group signatures are privacy preserving signature schemes in which a group member can anonymously sign messages on behalf of the group, while providing accountability, by allowing the signature of a misbehaving group member be ``opened'' and the identity of the signer be revealed. In group signature members are admitted to the group by a (trusted) group manager. We motivate the need for a flexible mechanism in applications, such as privacy preserving access in smart environments, and propose a two-level member-join group signature that we call SPonsored Group Signature (SPGS) where group members of level 1 can ``sponsor'' new members, in level 2, to join the group. This relaxation of user join comes with additional accountability mechanisms: we require that the signature of a sponsored member can be opened to the identity of the sponsor (that is sponsor is responsible for the sponsored member), and while all signatures are anonymous, for the sponsored members, the signatures are linkable. This allows a sponsor to efficiently identify an undesirable sponsored member. We formalize SPGS scheme, define its security using a game-based approach, and give a generic construction of SPGS that uses a (dynamic) group signature scheme, a commitment scheme, and a knowledge-sound non-interactive zero knowledge proof of knowledge, and prove its security. We also give an instantiation of our construction. To show applicability of SPGS in practice, we consider the problem of providing guest access in a smart building, and introduce Anonymous Guest Access Token (AGAT) that allows a temporary guest to anonymously access (a subset of) the building resources. We show how SPGS can be used (together with an IND-CPA secure public key encryption scheme) to give a direct construction for AGAT, and show the efficiency of our guest access protocol when it is instantiated with existing schemes.
Kanan Huseynov, Ali Shahzaib, István András Seres, János Tapolcai
From a user's perspective, perhaps the most significant difference between traditional banking services and widely used blockchain-based financial systems is that, in the latter, transactions and, either directly or indirectly, account balances and transaction histories are publicly observable. Therefore, a growing number of cryptographic solutions have been proposed to add a privacy layer to such systems. However, the privacy that users actually obtain does not depend solely on the security of the underlying cryptographic protocol: user behavior, transaction amount patterns, and timing decisions can substantially reduce anonymity. In this work, we study behavioral leakage in cryptocurrency mixers, focusing on Railgun on Ethereum. We aim to heuristically estimate the probability that a given deposit and withdrawal transaction belong to the same user. We consider five sources of leakage: characteristic timing patterns, address reuse, proximity in the transaction graph induced by prior public transactions, amount fingerprints that preserve distinctive digit patterns across transaction values, and knapsack type matches in which groups of transaction amounts add up in revealing ways. Our results show that even cryptographically strong privacy systems may suffer substantial anonymity loss due to user behavior and transaction patterns. Our five heuristics are able to uniquely link 17.65% of Railgun withdraw transactions to deposit transactions. We also applied a knapsack solver algorithm that was able to produce a 3.42 bit median anonymity loss for withdraw transactions. This work contributes to a better understanding of the practical privacy limits of mixers and anonymity pools, and points toward safer usage practices and design principles.
As autonomous AI agents increasingly transact across organizational boundaries, a fundamental trust challenge emerges: how can an agent assess whether an unknown counterpart is trustworthy? The ERC-8004 protocol addresses this challenge with the first permissionless trust layer for AI agent economies, built around three on-chain registries for Identity, Reputation, and Validation. Despite its rapid adoption, the protocol has not been studied empirically, leaving it unclear whether the information it records provides a trustworthy basis for decision-making. To address this gap, we present the first empirical study of ERC-8004 across three chains: Ethereum, BNB Smart Chain (BSC), and Base, covering the period from protocol deployment through May 13, 2026. We crawl on-chain Identity and Reputation events, off-chain files, and x402 payment transactions. On the identity side, we find that most registrations are placeholders rather than active agents, with only a small fraction (3%, 4%, and 15% across Ethereum, BSC, and Base) exposing a valid ERC-8004 registration file with at least one live service endpoint. On the reputation side, we show that the Registry, as currently deployed, cannot function as a trust signal: values are not commensurable, feedback records are rarely grounded in verifiable interactions, and reputation can be manipulated at minimal cost. Consistent with these design weaknesses, we find that a substantial fraction of reviewers (73.5%, 59.2%, and 90.6% across Ethereum, BSC, and Base) exhibit coordinated Sybil behavior. After removing Sybil-flagged feedback, 15.8%, 77.9%, and 86.8% of rated agents, respectively, are left with no valid feedback. We then turn these findings into concrete recommendations for future revisions of ERC-8004. Our study yields actionable protocol-design implications and establishes an empirical baseline for research on AI agent markets.
Y Jin, Shuohan Wu, Chong Chen, Lingfeng Bao · 6 authors
The Internet is transitioning from Web3 toward Web4, where autonomous agents serve as independent economic actors. These agents can now hold crypto wallets, execute on-chain trades, and pay for external API calls. This transition calls for a new infrastructure stack capable of supporting key agent operations, including agent-to-tool interaction, agent-to-agent payments, and verifiable agent identity, represented by emerging protocols such as the Model Context Protocol, x402, and EIP-8004. Despite growing industrial interest in these protocols, the real-world Web4 agent ecosystem remains largely underexplored. To bridge this gap, we conduct the first large-scale empirical study of the Web4 ecosystem. Specifically, our study targets three interconnected questions: how Web4 agents are deployed and used in practice; what engineering challenges developers face when building Web4 agents; how current project communities respond to these challenges. To answer these questions, we analyze 99,448 multi-chain identity registrations, 317,596,323 transaction logs, the source code of 341 MCP projects, and 349 filtered GitHub issues. Our findings reveal that autonomous agents have established a highly active machine-to-machine payment economy, processing millions of daily transactions. However, this growth is built on immature infrastructure, including identity/authorization practice, cross-environment operation, and payment interoperability. Our follow-up analysis shows that community responses are visible but unevenly distributed across repositories, and payment interoperability remains the most persistent unresolved bottleneck. Overall, this study reveals a critical gap between the rapid growth of the Web4 agent economy and its fragile underlying infrastructure, highlighting future directions for building a more secure Web4 agent ecosystem.
Gefei Tan, Adria Gascon, Sarah Meiklejohn, Mariana Raykova
In machine learning, model certification has been identified as an important method for gaining assurance about a model's trustworthiness and quality. A model's quality is largely determined by its ability to generalize, i.e., to perform well on data beyond what it was trained on. It is not possible to certify generalization directly, however, as it depends on unknown data and is not directly measurable. Proxies such as test accuracy can be misleading when the training process is perturbed (intentionally or accidentally), and metrics such as sharpness -- which has an empirically supported link to generalization -- are computationally expensive and can also serve as unreliable signals when training deviates from a prescribed procedure. In this work, we propose directional sharpness, a metric designed to efficiently and reliably indicate generalization despite potential training deviations. We provide empirical and analytical evidence that directional sharpness (1) correlates more strongly with generalization than existing metrics and (2) identifies models with poor generalization more reliably than existing metrics. Furthermore, directional sharpness is efficiently computable in model auditing settings, where the verifier has access to training data, and via zero-knowledge proofs that certify quality without revealing training data.
We introduce \textit{OptChain}, a permissionless blockchain state machine replication (SMR) protocol that achieves optimal throughput. We first establish a theoretical upper bound on the throughput of any SMR protocol under a fixed error probability, and OptChain is the first protocol to approach this limit. Conceptually, OptChain is a sharding protocol that optimizes both vertical and horizontal scalability. Vertically, we introduce \textit{Shardis}, a novel permissionless verifiable information dispersal mechanism that maximizes intra-shard throughput to its physical limit, determined by the fastest node's bandwidth within each shard. Horizontally, we propose \textit{diffusion mining}, which ensures security as long as each shard includes at least one honest node, thereby allowing for the maximum number of shards. We provide a formal security and efficiency analysis, demonstrating that OptChain approaches the established upper bound while maintaining robust security. Finally, we implement a full prototype of OptChain and deploy it on AWS EC2 nodes across various regions. Experimental results indicate that OptChain outperforms state-of-the-art permissionless protocols and closely approaches the theoretical optimal throughput.
Proof-of-Work blockchains secure consensus through hash puzzles, producing no external value. In this research, we propose a decentralized AI economy where nodes are rewarded for useful machine-learning work, i.e., inference and training, instead of ineffective hashing method. Our proposed three-layer architecture separates compute, validation, and economic coordination. We formalize it via a $(θ_c, θ_w, W)$-closed-loop token economy and derive a sufficient-stake condition for honest participation. While existing Grover's algorithm provides only a quadratic speedup against hash puzzles, it does not accelerate ML-native linear algebra. On the other hand, Shor's algorithm threatens classical blockchain signatures. Post-quantum migration to lattice-based and hash-based standards can address the signature layer. Therefore, useful-work consensus thus offers both economic and quantum-security advantages over classical proof-of-work.
Constantine Doumanidis, Anya Kalogerakos, Maria Apostolaki
BGP hijacking enables impersonation attacks in which adversaries divert traffic at the prefix level and serve malicious content to unsuspecting clients. Detecting such attacks has traditionally been the responsibility of network operators, leaving end hosts exposed for hours. We argue that end hosts can detect prefix-level impersonation independently, exploiting a fundamental asymmetry: a BGP hijack diverts traffic for an entire IP prefix, but impersonating every co-hosted service within that prefix is prohibitively difficult at scale, especially if each service is authenticated by a different Certificate Authority. We propose HOWLR, a tool that operationalizes this insight by using co-hosted, TLS-authenticated services as witnesses: if a client can no longer authenticate them, it has evidence of an ongoing attack. This work evaluates the feasibility of this method by quantifying the existence and diversity of witnesses in the wild. We show that HOWLR can protect 89% of Tor relay prefixes, and 75% of Bitcoin pool gateway prefixes.
Established threat modelling methodologies (STRIDE, PASTA, Trike, OCTAVE, LINDDUN, attack trees, and adversary-behaviour catalogues such as MITRE ATT&CK) were designed for software products and enterprises with a discernible security perimeter, a single owning organisation, and a clean separation between technical and operational risk. Modern organisations violate all three assumptions: they run on cloud and SaaS control planes they do not own, distribute privileged authority across founders, contractors, vendors, signers, committees, and automation, and expose value through human approval ceremonies and supply-chain edges rather than a network boundary. The dominant failures are authorised-but-malicious actors, collusion across nominally independent parties, control-plane and CI/CD compromise, and operational mishandling of high-value actions, which existing methods largely omit. We present TRACE, a methodology that treats threat actors, roles, assets, critical invariants, and trust/authority edges as first-class, evidence-linked objects spanning three layers: protocols, systems, and organisations. We compare nine widely used frameworks across ten dimensions, show where each falls short in distributed, cloud-first, zero-trust settings, and specify TRACE: its core model, three application pillars, sequential gated workflow, and an evidence-and-traceability discipline for human-AI co-working in which language models accelerate coverage while senior reviewers retain judgement over invariants, severity, and collusion. TRACE was developed through Web3 security practice but is stack-agnostic. We discuss its relationship to zero trust architecture and accountable Byzantine consensus, its limitations, and open questions around empirical validation.
Distributed power systems complement centralized grids by coordinating distributed energy resources (DERs) to achieve regional energy self-sufficiency. Scaling such systems raises four persistent challenges: decentralized coordination, fair economic settlement, trustworthy operation, and system optimization, all without a central authority. This paper proposes Proof of Energy (PoE), a blockchain consensus mechanism that addresses these challenges through cryptographically secured, contribution-proportional node selection. In PoE, block generation rights are tied directly to real-world energy contributions, enabling distributed consensus without centralized dispatch. An Energy Contribution Unit (ECU) model is introduced to map heterogeneous energy services onto a unified value metric via scarcity-weighted normalization. A Verifiable Random Function (VRF)-based proposal mechanism then ensures selection probability is strictly proportional to node contribution, preserving fairness and resisting manipulation. Case studies validate PoE across three dimensions: grid coordination, incentive fairness, and optimization efficiency. The result is a cryptographically secured, incentive-compatible framework for decentralized value distribution in energy systems.
The Global Alliance for Genomics and Health (GA4GH) Beacon protocol lets researchers ask whether a genomic variant has been observed in a participating cohort and receive aggregate variant-level counts. As Beacon networks grow, two privacy risks remain: host institutions can see plaintext queries, and repeated rare-variant queries can support membership-inference attacks. We present bioETH-Beacon, a smart-contract prototype that runs the Beacon "aggregate count" query over encrypted data on a fully homomorphic Ethereum Virtual Machine (fhEVM). Hospitals upload encrypted marker-count entries, authorized researchers submit encrypted marker queries, and the contract returns an encrypted answer that is released, via an off-chain key-management service, only to the requester named in the contract's on-chain ACL. The design is organized as a 3x4 tier-by-query-family grid spanning genotype, sex, age, and phenotype queries, with tiers that trade stronger confidentiality for lower query cost. For genotype paths, the prototype can add bounded on-chain noise to mitigate probing attacks. Experiments on synthetic panels derived from a Polygenic Score (PGS) catalog show the expected scaling behavior and demonstrate that pre-aggregation can substantially reduce query gas when public marker presence is an acceptable trade-off. Overall, bioETH-Beacon provides a research prototype for confidential Beacon-style genomic querying without a trusted compute evaluator.
Consensus protocols form the core of blockchains and other replicated state machines, ensuring that all correct nodes process the same totally ordered log of input transactions. In fault-free executions, performance is driven by the good-case transaction latency -- the time between a transaction becoming known to all nodes and its confirmation by the consensus protocol -- which depends on both how frequently proposals are made and, once made, how quickly they are confirmed. While prior work has established tight lower bounds on confirmation latency that modern protocols already achieve, it remains open whether the inter-proposal time can be further reduced below the state-of-the-art of one network delay. We introduce Gatling, an atomic broadcast protocol that achieves arbitrarily small inter-proposal times under rotating leader schedules; in particular, smaller than the network delay. Gatling runs multiple parallel instances of a black-box atomic broadcast protocol and staggers their proposal schedules to generate proposals in faster succession than state-of-the-art protocols. A deterministic interleaving rule merges the outputs of these instances into a single global log. We analyze the effects of head-of-line blocking caused by crashed leaders, and derive Gatling's optimal number of parallel instances. We further study the impact of Gatling on predictable validity and present two variants that retain this property. Finally, our experiments confirm that Gatling can be used with off-the-shelf component protocols to achieve low latency without fine-tuning the component protocol for minimum latency.
Distributed systems handle adversarial nodes through redundancy, which imposes a significant performance overhead. In blockchain systems, Byzantine fault-tolerant state-machine replication (BFT-SMR) is the replicated service that totally orders client transactions before execution. While prior research has primarily focused on designing novel consensus algorithms with improved performance, recent studies have shown that further gains can be achieved through configuration optimization. More precisely, replicas can monitor network latency to dynamically assign the leader role and tune voting weights, thereby improving consensus performance. However, we identify three vulnerabilities in this process that Byzantine nodes can exploit. To address these weaknesses, we propose Beware, a reconfiguration framework that filters out falsified latency reports, computes robust weight distributions, and applies machine learning to converge towards Byzantine-resilient configurations. Our evaluation shows that Beware reduces consensus latency by up to 45% compared to existing solutions.
Modern blockchain state management faces a critical scalability bottleneck: maintaining cryptographic commitments over hundreds of millions of entries becomes computationally prohibitive. Ethereum's transition to Verkle Trees: polynomial commitment accumulators reducing proof sizes from O(width * depth) to O(depth) via constant-size IPA vector commitments, is a critical step toward stateless operation. Yet, current implementations exhibit pathological characteristics that burden home validators. We identify four inefficiencies in the reference go-verkle implementation \cite{kaur2025goverkle, kaur2025goethereum}: (1) phantom node creation during non-existent account deletion; (2) 64-byte database keys triggering excessive LSM-tree compaction; (3) redundant memory copying in proof deserialization; (4) a Proof of Absence wire format incompatibility causing non-deterministic serialization. We present Fractional Verkle Trees (FVT), a hypertree decomposition partitioning global state into N independent sub-accumulators coordinated by a Merkle commitment tree, achieving improved cache locality, zero-lock-contention goroutine-parallel commitment computation, and faster root recomputation (91 $μ$s vs $\sim$500 ms). We address each inefficiency via existence checks, 32-byte SHA256 node references, zero-copy reference-counted buffers, and HashMap-based lexicographic deduplication. Benchmarks on Apple M1 Pro show 57\% heap allocation reduction (566,760 to 242,004 bytes per 10K proofs), parallel insertion at 2,433 ns/op, and network-wide elimination of 4.85 PB/year across 6,000 full nodes, advancing the Ethereum stateless roadmap.
Existing Decentralised Identifier (DID) methods require coordination, an agreed global order of operations, to update a DID document: blockchain-anchored methods incur fees and latency; lightweight peer methods (did:key, did:peer) offer no update mechanism; and Sidetree methods still require blockchain ordering for finality. We present did:crdt, a DID method that targets W3C DID Core and removes the need for coordination entirely: there is no ledger, no sequencer, and no global total order. Each DID document is composed of signed Conflict-Free Replicated Data Types (CRDTs), one per document field, each chosen so that concurrent edits merge deterministically. By the CALM Theorem, the state-merge path is then confluent: replicas that see the same updates reach the same document in any arrival order. The signed-delta path needs only causal delivery, applying an update after those it builds on, which is far weaker than the total ordering ledgers impose and needs no agreement protocol. We are explicit about scope: every untrusted-peer path is authenticated, so Byzantine fault tolerance (safety even when peers lie or send malformed data) holds for signed deltas and verified-bundle replay, while the unauthenticated state-merge path is a trusted-domain optimisation and key-compromise recovery is bounded by revocation semantics. We give the data and threat model, CRUD semantics, conflict resolution, and a Rust reference implementation with property-based convergence tests and microsecond-scale merge latency.
This paper presents an empirical analysis of the Web3 security landscape over the four-year and three-month period from 1 January 2022 to 27 March 2026. The dataset combines 23,818 public audit findings produced by 22 independent security firms with 218 real-world exploit incidents documented by rekt.news, representing aggregate losses of approximately US$7.76 billion. We report three central findings. First, the distribution of audit findings (by severity, category, and technology stack) is substantially stable across the observation window, with the Critical-plus-High share remaining within a 15-17% band in every complete year. Second, the categorical distribution of realised exploit losses does not correspond to the categorical distribution of audit findings: private-key compromise, phishing, and social-engineering vectors account for approximately 49.6% of cumulative losses yet represent a negligible share of published audit findings. Third, realised losses exhibit extreme concentration: the eight largest incidents account for 50.6% of cumulative dollar losses and the twenty largest for 71.4%, a distributional shape inconsistent with Gaussian assumptions. Throughout, we adopt the analytical convention that audit outputs and exploit outputs describe different populations and present the two datasets in parallel rather than as directly comparable samples.
Blockchain interoperability enables independent blockchain systems to communicate and exchange assets across heterogeneous networks. However, the lack of comprehensive security mechanisms remains a critical weakness -- one that attackers have already exploited to cause hundreds of millions of dollars in asset losses. This paper presents a systematic identification and classification of security threats facing interoperable blockchain systems, along with corresponding countermeasures for each. We organize threats into five categories: (1) core blockchain attacks, (2) network attacks, (3) interoperability-specific attacks, (4) social engineering, and (5) code vulnerabilities, with particular attention to smart contract weaknesses. For each identified threat, we analyze its attack surface and propose effective defensive strategies. The resulting taxonomy provides a structured foundation for designing and evaluating secure blockchain interoperability solutions.