Corbet, Shaen ORCID: 0000-0001-7430-7417, Cumming, Douglas J., Lucey, Brian ORCID: 0000-0002-4052-8235, Peat, Maurice and Vigne, Samuel A. ORCID: 0000-0003-1831-617X (2019) The destabilising effects of cryptocurrency cybercriminality. Economics Letters, 191 . ISSN 0165-1765
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.
Metadata
Item Type: | Article (Published) |
---|---|
Refereed: | Yes |
Additional Information: | Article number: 108741 |
Uncontrolled Keywords: | Price Volatility; Cryptocurrency; Hacking; Cybercrime; Bitcoin; GARCH |
Subjects: | Business > Finance |
DCU Faculties and Centres: | DCU Faculties and Schools > DCU Business School |
Publisher: | Elsevier |
Official URL: | https://dx.doi.org/10.1016/j.econlet.2019.108741 |
Copyright Information: | © 2019 Elsevier (CC-BY-ND) |
Use License: | This item is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 3.0 License. View License |
ID Code: | 25982 |
Deposited On: | 09 Jun 2021 13:03 by Thomas Murtagh . Last Modified 21 Feb 2022 17:22 |
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