Rebuilding Trust in Cryptocurrency Exchanges after Cyber-attacks

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Journal Title
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Volume Title
Conference article in proceedings
Date
2021-01-05
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Degree programme
Language
en
Pages
10
5636-5646
Series
Proceedings of the 54th Hawaii International Conference on System Sciences
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.
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Citation
Marella , V , Roshan Kokabha , M , Merikivi , J & Tuunainen , V 2021 , Rebuilding Trust in Cryptocurrency Exchanges after Cyber-attacks . in Proceedings of the 54th Hawaii International Conference on System Sciences . Hawaii International Conference on System Sciences , pp. 5636-5646 , Annual Hawaii International Conference on System Sciences , Maui , Hawaii , United States , 05/01/2021 . < https://hdl.handle.net/10125/71304 >