Cybersecurity crimes in cryptocurrency exchanges (2009–2024) and emerging quantum threats: the largest unified dataset of CEX and DEX incidents

Cryptocurrency exchanges are integral to the digital asset economy; however, their rapid growth has been accompanied by recurrent high-impact cyberattacks that erode trust and inflict substantial losses. Guided by the PRISMA-ScR framework, this review systematically screened peer-reviewed and industry sources to construct a validated dataset of 220 major incidents (2009–2024) across centralized (CEX) and decentralized (DEX) exchanges. We classify attack vectors, analyze repeated high-impact patterns, and identify systemic vulnerabilities spanning cryptographic mechanisms and exchange infrastructure. Across CEX platforms, four of ten identified attack types accounted for 62 of the 80 incidents and approximately $1.764 billion in losses (42.1% of the $4.191 billion CEX total). Across DEX platforms, five of eighteen attack types were responsible for 120 of 140 incidents, totaling $3.755 billion (87.3% of the $4.303 billion DEX total). The overall losses sum to $8.494 billion across 220 incidents (80 CEX; 140 DEX). Repeated vectors comprised 182/220 incidents and $5.519 billion (65.0%) of losses, dominated by wallet/key compromise (78 incidents; $2.394 billion) and DEX system/server/protocol exploits (56 incidents; $1.939 billion); these two classes account for 134/182 repeated incidents (79.1%) and $4.333 billion (78.5%) of repeated losses. We examine the susceptibility of cryptographic defenses to emerging quantum adversaries and assess the exchange readiness for post-quantum threats. This study is the first to systematically compile and quantitatively analyze cybercrime incidents affecting both centralized and decentralized cryptocurrency exchanges in a unified dataset, enabling unprecedented comparability of systemic risks with actionable insights for cybersecurity researchers, regulators, and exchange operators seeking quantum-safe infrastructure evolution.

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Publication Details

Journal
Frontiers in Blockchain
Published
2025-11-27
DOI
https://doi.org/10.3389/fbloc.2025.1713637
Primary Topic
Cybercrime and Law Enforcement Studies
Type
article
Field-Weighted Citation Impact
0.00

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article

Cybersecurity crimes in cryptocurrency exchanges (2009–2024) and emerging quantum threats: the largest unified dataset of CEX and DEX incidents

Akinlemi Olushola, S. P. Meenakshi
Frontiers in Blockchain
Cybercrime and Law Enforcement Studies
article

Cybersecurity crimes in cryptocurrency exchanges (2009–2024) and emerging quantum threats: the largest unified dataset of CEX and DEX incidents

Akinlemi Olushola, S. P. Meenakshi
article en

Abstract

Cryptocurrency exchanges are integral to the digital asset economy; however, their rapid growth has been accompanied by recurrent high-impact cyberattacks that erode trust and inflict substantial losses. Guided by the PRISMA-ScR framework, this review systematically screened peer-reviewed and industry sources to construct a validated dataset of 220 major incidents (2009–2024) across centralized (CEX) and decentralized (DEX) exchanges. We classify attack vectors, analyze repeated high-impact patterns, and identify systemic vulnerabilities spanning cryptographic mechanisms and exchange infrastructure. Across CEX platforms, four of ten identified attack types accounted for 62 of the 80 incidents and approximately $1.764 billion in losses (42.1% of the $4.191 billion CEX total). Across DEX platforms, five of eighteen attack types were responsible for 120 of 140 incidents, totaling $3.755 billion (87.3% of the $4.303 billion DEX total). The overall losses sum to $8.494 billion across 220 incidents (80 CEX; 140 DEX). Repeated vectors comprised 182/220 incidents and $5.519 billion (65.0%) of losses, dominated by wallet/key compromise (78 incidents; $2.394 billion) and DEX system/server/protocol exploits (56 incidents; $1.939 billion); these two classes account for 134/182 repeated incidents (79.1%) and $4.333 billion (78.5%) of repeated losses. We examine the susceptibility of cryptographic defenses to emerging quantum adversaries and assess the exchange readiness for post-quantum threats. This study is the first to systematically compile and quantitatively analyze cybercrime incidents affecting both centralized and decentralized cryptocurrency exchanges in a unified dataset, enabling unprecedented comparability of systemic risks with actionable insights for cybersecurity researchers, regulators, and exchange operators seeking quantum-safe infrastructure evolution.

Frontiers in BlockchainVol. 8
Vellore Institute of Technology University (IN)
VIT University
Openalex Percentile: Top 50%
Cybercrime and Law Enforcement Studies
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Cybersecurity crimes in cryptocurrency exchanges (2009–2024) and emerging quantum threats: the largest unified dataset of CEX and DEX incidents — Akinlemi Olushola, S. P. Meenakshi · Frontiers in Blockchain (2025) | TGRS Research Map | TGRS