We investigate the impact of cryptocurrency-related cyberattacks on the cryptocurrency market and traditional financial markets. The dataset consists of historical cyberattack data and trading data for twenty cryptocurrencies, three cryptocurrency uncertainty indices, five payment companies, four stock indices, a commodity index, and gold. We find that cyberattacks are associated with negative returns, increased volatility, and increased trading volume not only for the cryptocurrencies but also for the payment companies, the financial and technology sectors, and the general stock market. However, the impact of cyberattacks on cryptocurrencies has been decreasing over time, while the impact on payment companies and the financial sector has been increasing. Moreover, gold prices have shown a positive response to these cyberattacks. These results underscore the need for enhanced cybersecurity measures in the fintech sector and may inform both policymakers and market participants.

中文翻译：

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与加密货币相关的网络攻击对加密货币和传统金融资产的回报、波动性和交易量的影响


我们研究与加密货币相关的网络攻击对加密货币市场和传统金融市场的影响。该数据集包含二十种加密货币的历史网络攻击数据和交易数据、三种加密货币不确定性指数、五家支付公司、四种股票指数、一种商品指数和黄金。我们发现，网络攻击不仅与加密货币、支付公司、金融和技术行业以及一般股票市场的负回报、波动性增加和交易量增加有关。然而，随着时间的推移，网络攻击对加密货币的影响一直在减弱，而对支付公司和金融部门的影响却在不断增加。此外，金价对这些网络攻击表现出了积极的反应。这些结果强调了金融科技领域加强网络安全措施的必要性，并可为政策制定者和市场参与者提供信息。