Securing Decentralized Ecosystems: A Comprehensive Systematic Review of Blockchain Vulnerabilities, Attacks, and Countermeasures and Mitigation Strategies

Md Kamrul Siam, Bilash Saha, Md Mehedi Hasan, Md Jobair Hossain Faruk (), Nafisa Anjum, Sharaban Tahora, Aiasha Siddika and Hossain Shahriar ()
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Md Kamrul Siam: Department of Computer Science, New York Institute of Technology, New York, NY 10023, USA
Bilash Saha: Department of Information Technology, Kennesaw State University, Kennesaw, GA 30144, USA
Md Mehedi Hasan: Department of Information Technology, Kennesaw State University, Kennesaw, GA 30144, USA
Md Jobair Hossain Faruk: Department of Computer Science, New York Institute of Technology, New York, NY 10023, USA
Nafisa Anjum: Department of Information Technology, Kennesaw State University, Kennesaw, GA 30144, USA
Sharaban Tahora: Department of Information Technology, Kennesaw State University, Kennesaw, GA 30144, USA
Aiasha Siddika: Department of Information Technology, Kennesaw State University, Kennesaw, GA 30144, USA
Hossain Shahriar: Center for Cybersecurity, University of West Florida, Pensacola, FL 32514, USA

Future Internet, 2025, vol. 17, issue 4, 1-41

Abstract: Blockchain technology has emerged as a transformative innovation, providing a transparent, immutable, and decentralized platform that underpins critical applications across industries such as cryptocurrencies, supply chain management, healthcare, and finance. Despite their promise of enhanced security and trust, the increasing sophistication of cyberattacks has exposed vulnerabilities within blockchain ecosystems, posing severe threats to their integrity, reliability, and adoption. This study presents a comprehensive and systematic review of blockchain vulnerabilities by categorizing and analyzing potential threats, including network-level attacks, consensus-based exploits, smart contract vulnerabilities, and user-centric risks. Furthermore, the research evaluates existing countermeasures and mitigation strategies by examining their effectiveness, scalability, and adaptability to diverse blockchain architectures and use cases. The study highlights the critical need for context-aware security solutions that address the unique requirements of various blockchain applications and proposes a framework for advancing proactive and resilient security designs. By bridging gaps in the existing literature, this research offers valuable insights for academics, industry practitioners, and policymakers, contributing to the ongoing development of robust and secure decentralized ecosystems.

Keywords: blockchain technology; blockchain security; blockchain attacks; cybercrime; decentralization; data privacy (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2025
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