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 "@id": "https://wulfkaal.github.io/entities/cybersecurity",
 "identifier": "kaal:entity:cybersecurity",
 "name": "Cybersecurity",
 "termCode": "cybersecurity",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227933-022",
   "identifier": "kaal:claim:3227933-022",
   "text": "The claim that blockchain is secure by design cannot yet be relied on, because the technology has not been adopted widely enough to be severely tested, and hacking attacks on digital currencies underscore the concern.",
   "abstract": "Another important challenge is cybersecurity; supporters of blockchain claim that it is secure by design, but the technology hasn't been adopted widely enough yet for it to be severely tested.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933",
   "datePublished": "2018",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "current state of adoption"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227967-029",
   "identifier": "kaal:claim:3227967-029",
   "text": "Cybersecurity should not be addressed by introducing more law in books; law students should instead look for technology based solutions and at minimum acquire the knowledge needed to evaluate such solutions against the alternatives.",
   "abstract": "But instead of combatting \"cybersecurity\" with the introduction of \"more law in books,\" law students should look for technology-based solutions. At the very least, they need to have the necessary knowledge to evaluate technology-based solutions and compare them with the alternatives.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Legal Education in a Digital Age Why 'Coding for Lawyers' Matters (2018). SSRN: https://ssrn.com/abstract=3227967",
   "datePublished": "2018",
   "claim_type": "normative",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "cloud delivered software and Internet of Things environments"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3411110-020",
   "identifier": "kaal:claim:3411110-020",
   "text": "Blockchain based offerings introduce technology risks from code design and functioning and from third party intrusions that are generally absent in traditional offerings, and these risks cannot really be quantified.",
   "abstract": "Technology-based risks include risks from the design and functioning of code, and from third-party intrusions. Such risks are generally not present in a traditional offering.",
   "citation": "Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110",
   "datePublished": "2019",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "blockchain based offerings compared with traditional offerings"
   ],
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3936876-014",
   "identifier": "kaal:claim:3936876-014",
   "text": "Because a wallet provider or exchange that has custody of a digital asset gains full control over transactions, hacking a digital asset exchange is equivalent to robbing a bank: the attacker obtains valuable cryptocurrency that can be cashed out.",
   "abstract": "As such, a hack of a digital asset exchange is akin to robbing a bank-- getting hold of valuable cryptocurrencies that they can cash out of.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "exchanges holding pooled customer assets in hot storage"
   ],
   "source_pdf_sha256": "9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55",
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3936876-015",
   "identifier": "kaal:claim:3936876-015",
   "text": "Between 2011 and 2018 there were 56 cyberattacks on cryptocurrency exchanges, initial coin offerings and other digital currency platforms worldwide, totaling $1.63 billion in hacking related losses.",
   "abstract": "Between 2011 and 2018 there were 56 cyberattacks directed at cryptocurrency exchanges, initial coin offerings and other digital-currency platforms around the world, totaling $1.63 billion in hacking-related losses.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "empirical",
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   "is_failure_mode": false,
   "scope_conditions": [
    "global, 2011 to 2018"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3936876-019",
   "identifier": "kaal:claim:3936876-019",
   "text": "Cold storage custody solutions are much more secure and resistant to cyber attacks than hot storage because the digital assets and associated private keys are held in wallets that are not connected to the Internet.",
   "abstract": "Because of these distinguishing features, cold storage has several key benefits. For one, cold storage custody solutions are much more secure and resistant to cyber attacks.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "argued",
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   "scope_conditions": [
    "wallets kept offline"
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   "@id": "https://wulfkaal.github.io/claims/3936876-030",
   "identifier": "kaal:claim:3936876-030",
   "text": "Every risk in a digital custody operation should carry both a preventative and a detective control, layered so that if some controls fail others remain to reduce the risk.",
   "abstract": "Every risk should have a preventative and detective control and there should be appropriate layers of controls so that if some fail, others will still be there to reduce the risk.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "design",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
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   "@id": "https://wulfkaal.github.io/claims/5583610-036",
   "identifier": "kaal:claim:5583610-036",
   "text": "Smart contract exploits are a live failure channel for LER, capable of producing losses on the scale of DeFi incidents that have exceeded $1 billion annually and requiring insurance premiums of one to two percent of asset value.",
   "abstract": "Vulnerabilities such as smart contract exploits could result in losses akin to DeFi incidents, where failures have exceeded $1 billion annually, necessitating insurance premiums of 1–2% of asset value.",
   "citation": "Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610",
   "datePublished": "2025",
   "claim_type": "failure",
   "confidence": "evidenced",
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 "description": "8 claims in the published works of Wulf A. Kaal carry the concept tag 'cybersecurity'. Derived node: a roster, not an adjudicated definition."
}