Researchers led by Professor Nick Nikiforakis of the Department of Computer Science at Stony Brook University recently won a bronze medal at eCrime 2024 in Boston for their paper “Typosquatting 3.0: Characterizing Squatting in Blockchain Naming Systems.”
The research revealed a new type of vulnerability in blockchain technology, focusing on how cybercriminals can exploit human error in blockchain naming systems.
Muhammad Muzammil, doctoral student and lead author of the study, explained how these vulnerabilities pose significant risks to users. Typosquatting, a deceptive practice that targets minor spelling errors in domain names, is now being applied to blockchain. This can lead to financial losses and compromise digital assets.
“Our research shows that as blockchain technology evolves, it also introduces new opportunities for bad actors. A single typo in Blockchain name systems can result in cryptocurrency losses equivalent to thousands of dollars,” said Nikiforakis, head of the PragSec Lab at Stony Brook.
Professor and Head of the Department of Computer Science, Samir Das, highlighted the importance of this work. “The team’s findings contribute to a deeper understanding of cybersecurity risks and reinforce the need for stronger protections in emerging digital ecosystems. In this new realm of cryptocurrencies and Web3, it is crucial to find ways to protect our online interactions.
Read the full story by Yuganshu Jain on the Computer Science website.
