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Documents authored by Vasek, Marie

Document
DOI: 10.4230/LIPIcs.AFT.2024.24
Investigating Wrench Attacks: Physical Attacks Targeting Cryptocurrency Users

Authors: Marilyne Ordekian, Gilberto Atondo-Siu, Alice Hutchings, and Marie Vasek

Published in: LIPIcs, Volume 316, 6th Conference on Advances in Financial Technologies (AFT 2024)

Abstract
Cryptocurrency wrench attacks are physical attacks targeting cryptocurrency users in the real world to illegally obtain cryptocurrencies. These attacks significantly undermine the efficacy of existing digital security norms when confronted with real-world threats. We present the first comprehensive study on wrench attacks. We propose a theoretical approach to defining wrench attacks per criminal law norms, and an interdisciplinary empirical approach to measure their incidence. Leveraging three data sources, we perform crime script analysis, detecting incidents globally across 10 interviews with victims and experts, 146 news articles, and 37 online forums. Our findings reveal diverse groups of attackers ranging from organized crime groups to friends and family, various modi operandi, and different forms of attacks varying from blackmail to murder. Despite existing since Bitcoin’s early days, these attacks are underreported due to revictimization fears. Additionally, unlike other cryptocurrency crimes, users with advanced security experience were not immune to them. We identify potential vulnerabilities in users' behavior and encourage cryptocurrency holders to lean into digital as well as physical safety measures to protect themselves and their cryptocurrency. We offer actionable recommendations for the security community and regulators, highlighting the double-edged sword of Know Your Customer policies.
Cite as

Marilyne Ordekian, Gilberto Atondo-Siu, Alice Hutchings, and Marie Vasek. Investigating Wrench Attacks: Physical Attacks Targeting Cryptocurrency Users. In 6th Conference on Advances in Financial Technologies (AFT 2024). Leibniz International Proceedings in Informatics (LIPIcs), Volume 316, pp. 24:1-24:24, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2024)

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@InProceedings{ordekian_et_al:LIPIcs.AFT.2024.24,
  author =	{Ordekian, Marilyne and Atondo-Siu, Gilberto and Hutchings, Alice and Vasek, Marie},
  title =	{{Investigating Wrench Attacks: Physical Attacks Targeting Cryptocurrency Users}},
  booktitle =	{6th Conference on Advances in Financial Technologies (AFT 2024)},
  pages =	{24:1--24:24},
  series =	{Leibniz International Proceedings in Informatics (LIPIcs)},
  ISBN =	{978-3-95977-345-4},
  ISSN =	{1868-8969},
  year =	{2024},
  volume =	{316},
  editor =	{B\"{o}hme, Rainer and Kiffer, Lucianna},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/LIPIcs.AFT.2024.24},
  URN =		{urn:nbn:de:0030-drops-209609},
  doi =		{10.4230/LIPIcs.AFT.2024.24},
  annote =	{Keywords: cryptocurrency, Bitcoin, crime, wrench attack, physical attack}
}
Document
DOI: 10.4230/DagRep.12.10.129
Security of Decentralized Financial Technologies (Dagstuhl Seminar 22421)

Authors: Arthur Gervais and Marie Vasek

Published in: Dagstuhl Reports, Volume 12, Issue 10 (2023)

Abstract
The decentralized finance (DeFi) sector has grown to a 13+ billion USD economy, encompassing various financial activities. The non-custodial nature of DeFi requires users to take responsibility for managing their assets, but it also provides them more control over their assets. The Dagstuhl Seminar brought researchers together to examine the security, privacy, and financial properties of DeFi and explore ways to protect users. The seminar aimed to reconcile the conflicting demands of security, usability, and performance in DeFi and outline best practices. Despite progress made in the DeFi sector, there is still much to be explored and improved, such as user education, regulatory compliance, and the scalability and performance limitations of decentralized ledgers. To build a secure and user-friendly DeFi ecosystem, continued collaboration among experts is needed.
Cite as

Arthur Gervais and Marie Vasek. Security of Decentralized Financial Technologies (Dagstuhl Seminar 22421). In Dagstuhl Reports, Volume 12, Issue 10, pp. 129-142, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2023)

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@Article{gervais_et_al:DagRep.12.10.129,
  author =	{Gervais, Arthur and Vasek, Marie},
  title =	{{Security of Decentralized Financial Technologies (Dagstuhl Seminar 22421)}},
  pages =	{129--142},
  journal =	{Dagstuhl Reports},
  ISSN =	{2192-5283},
  year =	{2023},
  volume =	{12},
  number =	{10},
  editor =	{Gervais, Arthur and Vasek, Marie},
  publisher =	{Schloss Dagstuhl -- Leibniz-Zentrum f{\"u}r Informatik},
  address =	{Dagstuhl, Germany},
  URL =		{https://drops.dagstuhl.de/entities/document/10.4230/DagRep.12.10.129},
  URN =		{urn:nbn:de:0030-drops-178233},
  doi =		{10.4230/DagRep.12.10.129},
  annote =	{Keywords: blockchain technology, decentralized finance (DeFi), distributed consensus protocols, security economics, security foundations}
}
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