The destabilising effects of cryptocurrency cybercriminality

【Author】 Corbet, Shaen; Cumming, Douglas J.; Lucey, Brian M.; Peat, Maurice; Vigne, Samuel A.

【Source】ECONOMICS LETTERS

【影响因子】1.469

【Abstract】This paper investigates the financial market effects of recent cybercriminality in cryptocurrency markets. Hacking events are found to increase both the price volatility of the targeted cryptocurrency and broad cross-cryptocurrency correlations. Further, cybercrime events significantly reduce price discovery sourced within the hacked currency relative to other cryptocurrencies. Finally, abnormal returns in the hours prior to the cybercrime event, revert to zero when news is publicly announced. (C) 2019 Elsevier B.V. All rights reserved.

【Keywords】Price volatility; Cryptocurrency; Hacking; Cybercrime; Bitcoin; GARCH

【发表时间】2020 JUN

【收录时间】2022-01-02

【文献类型】

【主题类别】

--