Rebuilding Trust in Cryptocurrency Exchanges after Cyber-attacks

Venkata Marella, Maryam Roshan Kokabha, Jani Merikivi, Virpi Tuunainen

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

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Abstract

Cryptocurrency exchanges are subjected to cyber-attacks and cryptocurrencies worth millions of US dollars are lost every year. The value of cryptocurrencies is volatile and the cyber-attacks on the exchanges make them even more volatile. Whenever these cyber-attacks happen, the customers might lose their trust not only on a given exchange but also on cryptocurrencies in general. Hence, the exchanges need to rebuild trust among their current and potential customers after a cyber-attack. In this paper, we present findings from a study on cyber-attacks on seven different exchanges, focusing on how they responded after the cyber-attacks to rebuild customers’ trust. Analyzing the responses of current and potential customers to the trust rebuilding techniques used by the exchanges, we also assessed the efficiency of these techniques.
Original languageEnglish
Title of host publicationProceedings of the 54th Hawaii International Conference on System Sciences
Pages5636-5646
Number of pages10
ISBN (Electronic)978-0-9981331-4-0
Publication statusPublished - 5 Jan 2021
MoE publication typeA4 Article in a conference publication
EventAnnual Hawaii International Conference on System Sciences - Maui, United States
Duration: 5 Jan 20218 Jan 2021
Conference number: 54

Conference

ConferenceAnnual Hawaii International Conference on System Sciences
Abbreviated titleHICSS
CountryUnited States
CityMaui
Period05/01/202108/01/2021

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