18 Key Security Risks in Blockchain Adoption

🔗 Blockchain-Specific

Security of Smart Contracts: Exploitable vulnerabilities in smart contract code, compounded by their immutable nature once deployed.

Forks: Data inconsistencies resulting from blockchain splits (hard or soft forks).

Cryptographic Algorithms: Weakening of cryptographic protections due to advancements in computational power.

Cryptographic Key Management: Irrecoverable data loss or unauthorized access caused by compromised or lost keys.

🌐 Network and Infrastructure

Access Control: Unauthorized interactions with the blockchain due to insufficient or poorly managed access controls.

Scalability: Performance and security challenges arising from the blockchain’s inability to efficiently handle increased transaction volumes.

Intrusion Detection: Inability to detect unauthorized activities or disruptions within the decentralized blockchain network.

Targeted Attack Resistance: Susceptibility to 51% attacks, Sybil attacks, or other network-disrupting attacks.

Data Propagation Attack Resistance: Disruption of blockchain operations and data integrity from attacks targeting data transmission and propagation.

⚙️ Operational and Organizational

Operations & Communications Security: Increased exposure to risks from weak operational processes or insecure communication channels.

System Acquisition, Development, and Maintenance: Introduction of vulnerabilities due to insecure system design, development practices, or poor maintenance.

Asset Management: Loss, theft, or misuse of blockchain assets due to improper asset management practices.

Human Resource Security: Security risks stemming from inadequate training, awareness, or screening of personnel.

Supplier Relationships: Security vulnerabilities introduced by unvetted or poorly managed third-party providers.

Incident Management: Amplified impact of breaches due to the absence of comprehensive incident response plans.

📋 Management Level

Organization of Information Security: Greater exposure to risks due to weak governance structures and lack of clear security responsibilities.

Information Security Policies: Security gaps resulting from outdated, incomplete, or poorly enforced security policies.

External/Internal Compliance: Legal and operational risks heightened by non-compliance with applicable regulations and standards.

📄 Read More: https://dutchblockchaincoalition.org/assets/images/default/DBC-Cyber-Security-Framework-final-1.pdf (Note: While not a newly published document, it remains a valid and valuable resource.) by Dutch Blockchain Coalition

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