Abstract
Flash Loan, as an emerging service in the decentralized finance ecosystem, allows users to request a non-collateral loan. While providing convenience, it also enables attackers to launch malicious operations with a large amount of asset that they do not have. Though there exist spot media reports of attacks that leverage Flash Loan, there lacks a comprehensive understanding of existing Flash Loan services. In this work, we take the first step to study the Flash Loan service provided by three popular platforms. Specifically, we first illustrate the interactions between Flash Loan providers and users. Then, we design three patterns to identify Flash Loan transactions. Based on the patterns, 76,303 transactions are determined. The evaluation results show that the Flash Loan services get more popular over time. At last, we present four Flash Loan applications with real-world examples and propose two potential research directions.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the Ninth International Workshop on Security in Blockchain and Cloud Computing |
| Editors | Jian Liu, Shweta Shinde |
| Place of Publication | New York NY USA |
| Publisher | Association for Computing Machinery (ACM) |
| Pages | 23-28 |
| Number of pages | 6 |
| ISBN (Electronic) | 9781450384056 |
| DOIs | |
| Publication status | Published - May 2021 |
| Event | International Workshop on Security in Blockchain and Cloud Computing 2021: co-located with ASIA CCS 2021 - Online, Hong Kong Duration: 7 Jun 2021 → 7 Jun 2021 Conference number: 9th https://dl-acm-org.ezproxy.lib.monash.edu.au/action/showFmPdf?doi=10.1145%2F3457977 |
Conference
| Conference | International Workshop on Security in Blockchain and Cloud Computing 2021 |
|---|---|
| Abbreviated title | SBC'21 |
| Country/Territory | Hong Kong |
| Period | 7/06/21 → 7/06/21 |
| Internet address |
Keywords
- blockchain
- DeFi
- flash loan