Centralized Exchange (CEX) Hacks and Attacks (Part 2)

Jason Scharfman ()
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Jason Scharfman: Corgentum Consulting, LLC

Chapter 2 in The Cryptocurrency and Digital Asset Fraud Casebook, Volume III, 2025, pp 21-38 from Springer

Abstract: Abstract This chapter highlights the international nature of hacks and fraud involving centralized exchanges (CEXs). It begins with a discussion of the hacks of the South Korean exchange Yapizon and the United Kingdom’s Cashaa exchange. Next, the chapter discusses case studies of CEX hacks, including Russia’s Livecoin, the UK’s EXMO, Seychelles’ Bilaxy, and Taiwan’s ACE Exchange. Other CEX hacks discussed include Rain Exchange (Middle East), BTC Turk (Turkey), and DMM (Japan). The chapter then concludes with a discussion of trends between those CEXs that perform Know Your Customer (KYC) reviews and non-KYC CEXs.

Keywords: Centralized exchange (CEX); KYC; Livecoin; Rain exchange; ACE exchange; DMM exchange (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-3-031-84108-8_2

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