{"id":"https://openalex.org/W4383220697","doi":"https://doi.org/10.1145/3558535.3559793","title":"Understanding Flash-Loan-based Wash Trading","display_name":"Understanding Flash-Loan-based Wash Trading","publication_year":2022,"publication_date":"2022-09-19","ids":{"openalex":"https://openalex.org/W4383220697","doi":"https://doi.org/10.1145/3558535.3559793"},"language":"en","primary_location":{"id":"doi:10.1145/3558535.3559793","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3558535.3559793","pdf_url":"https://dl.acm.org/doi/pdf/10.1145/3558535.3559793","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 4th ACM Conference on Advances in Financial Technologies","raw_type":"proceedings-article"},"type":"conference-paper","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://dl.acm.org/doi/pdf/10.1145/3558535.3559793","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5036978485","display_name":"Rundong Gan","orcid":"https://orcid.org/0009-0006-4363-0952"},"institutions":[{"id":"https://openalex.org/I79817857","display_name":"University of Guelph","ror":"https://ror.org/01r7awg59","country_code":"CA","type":"education","lineage":["https://openalex.org/I79817857"]}],"countries":["CA"],"is_corresponding":false,"raw_author_name":"Rundong Gan","raw_affiliation_strings":["School of Computer Science, University of Guelph, Guelph, Ontario, Canada"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Computer Science, University of Guelph, Guelph, Ontario, Canada","institution_ids":["https://openalex.org/I79817857"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101525325","display_name":"Le Wang","orcid":"https://orcid.org/0000-0002-4939-1642"},"institutions":[{"id":"https://openalex.org/I79817857","display_name":"University of Guelph","ror":"https://ror.org/01r7awg59","country_code":"CA","type":"education","lineage":["https://openalex.org/I79817857"]}],"countries":["CA"],"is_corresponding":false,"raw_author_name":"Le Wang","raw_affiliation_strings":["School of Computer Science, University of Guelph, Guelph, Ontario, Canada"],"raw_orcid":"https://orcid.org/0000-0002-4939-1642","affiliations":[{"raw_affiliation_string":"School of Computer Science, University of Guelph, Guelph, Ontario, Canada","institution_ids":["https://openalex.org/I79817857"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5092404211","display_name":"Xiangyu Ruan","orcid":null},"institutions":[{"id":"https://openalex.org/I79817857","display_name":"University of Guelph","ror":"https://ror.org/01r7awg59","country_code":"CA","type":"education","lineage":["https://openalex.org/I79817857"]}],"countries":["CA"],"is_corresponding":false,"raw_author_name":"Xiangyu Ruan","raw_affiliation_strings":["School of Computer Science, University of Guelph, Guelph, Ontario, Canada"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Computer Science, University of Guelph, Guelph, Ontario, Canada","institution_ids":["https://openalex.org/I79817857"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5083787204","display_name":"Xiaodong Lin","orcid":"https://orcid.org/0000-0001-8916-6645"},"institutions":[{"id":"https://openalex.org/I79817857","display_name":"University of Guelph","ror":"https://ror.org/01r7awg59","country_code":"CA","type":"education","lineage":["https://openalex.org/I79817857"]}],"countries":["CA"],"is_corresponding":false,"raw_author_name":"Xiaodong Lin","raw_affiliation_strings":["School of Computer Science, University of Guelph, Guelph, Ontario, Canada"],"raw_orcid":"https://orcid.org/0000-0001-8916-6645","affiliations":[{"raw_affiliation_string":"School of Computer Science, University of Guelph, Guelph, Ontario, Canada","institution_ids":["https://openalex.org/I79817857"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I79817857"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":7,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":"74","last_page":"88"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9225000143051147,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9165999889373779,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/loan","display_name":"Loan","score":0.6976237893104553},{"id":"https://openalex.org/keywords/collateral","display_name":"Collateral","score":0.6906142830848694},{"id":"https://openalex.org/keywords/currency","display_name":"Currency","score":0.5361793637275696},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.4496050179004669},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.4170053005218506},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.3709754943847656},{"id":"https://openalex.org/keywords/monetary-economics","display_name":"Monetary economics","score":0.2307545244693756},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.19399532675743103}],"concepts":[{"id":"https://openalex.org/C2777764128","wikidata":"https://www.wikidata.org/wiki/Q189539","display_name":"Loan","level":2,"score":0.6976237893104553},{"id":"https://openalex.org/C2777910564","wikidata":"https://www.wikidata.org/wiki/Q694563","display_name":"Collateral","level":2,"score":0.6906142830848694},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.5361793637275696},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.4496050179004669},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4170053005218506},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3709754943847656},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.2307545244693756},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.19399532675743103}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3558535.3559793","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3558535.3559793","pdf_url":"https://dl.acm.org/doi/pdf/10.1145/3558535.3559793","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 4th ACM Conference on Advances in Financial Technologies","raw_type":"proceedings-article"}],"best_oa_location":{"id":"doi:10.1145/3558535.3559793","is_oa":true,"landing_page_url":"https://doi.org/10.1145/3558535.3559793","pdf_url":"https://dl.acm.org/doi/pdf/10.1145/3558535.3559793","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the 4th ACM Conference on Advances in Financial Technologies","raw_type":"proceedings-article"},"sustainable_development_goals":[{"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17","score":0.5099999904632568}],"awards":[],"funders":[{"id":"https://openalex.org/F4320334593","display_name":"Natural Sciences and Engineering Research Council of Canada","ror":"https://ror.org/01h531d29"}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4383220697.pdf","grobid_xml":"https://content.openalex.org/works/W4383220697.grobid-xml"},"referenced_works_count":11,"referenced_works":["https://openalex.org/W1882794413","https://openalex.org/W2077134326","https://openalex.org/W2912514591","https://openalex.org/W3129830838","https://openalex.org/W3133932565","https://openalex.org/W3155511142","https://openalex.org/W3155854917","https://openalex.org/W3166296808","https://openalex.org/W3211314335","https://openalex.org/W3217034916","https://openalex.org/W4285536906"],"related_works":["https://openalex.org/W3124626177","https://openalex.org/W1545046617","https://openalex.org/W1494925915","https://openalex.org/W2181864467","https://openalex.org/W3124871137","https://openalex.org/W3210248607","https://openalex.org/W49270012","https://openalex.org/W2363844901","https://openalex.org/W1970250084","https://openalex.org/W2992028967"],"abstract_inverted_index":{"Flash":[0,126,153,176],"Loan,":[1],"a":[2,16,86,170],"popular":[3],"lending":[4],"service":[5],"in":[6,166,208],"the":[7,63,68,73,81,106,111,118,160,201,209,219,232],"decentralized":[8],"finance":[9],"(DeFi)":[10],"ecosystem,":[11],"allows":[12],"users":[13],"to":[14,29,58,71,137,146,184,230],"borrow":[15],"large":[17],"number":[18],"of":[19,52,110,162,213],"virtual":[20],"assets":[21,124],"without":[22],"any":[23],"collateral.":[24],"It":[25,78],"can":[26,79,116],"be":[27],"leveraged":[28],"support":[30],"many":[31],"financial":[32],"activities":[33,151],"(such":[34],"as":[35],"arbitrage,":[36],"collateral":[37],"swap,":[38],"self-liquidation,":[39],"etc.),":[40],"but":[41,141],"unfortunately,":[42],"it":[43],"is":[44,57,182],"often":[45],"abused":[46],"for":[47,97],"malicious":[48],"intent.":[49],"One":[50],"example":[51],"abusing":[53],"flash":[54],"loan":[55],"servicing":[56],"simultaneously":[59],"sell":[60],"and":[61,108,168,190,206,211,226],"buy":[62],"same":[64,69],"crypto":[65,82],"currency":[66,83],"on":[67,100],"exchange":[70],"mislead":[72],"market,":[74],"aka":[75],"wash":[76,139,149,164,194,204,224,228],"trading.":[77],"manipulate":[80],"market":[84,119],"at":[85],"very":[87],"low":[88],"cost":[89,220],"(anecdotally":[90],"average":[91],"around":[92],"0.033":[93],"ETH":[94],"gas":[95],"fee":[96],"each":[98],"transaction":[99,178],"Ethereum":[101,181],"mainnet),":[102],"thereby":[103],"dramatically":[104],"damaging":[105],"stability":[107],"fairness":[109],"market.":[112],"More":[113],"seriously,":[114],"attackers":[115],"amplify":[117],"impact":[120],"by":[121],"borrowing":[122],"more":[123,191],"from":[125,180],"Loan":[127,177],"platforms.":[128],"Until":[129],"now,":[130],"there":[131],"has":[132],"been":[133],"little":[134],"attention":[135],"paid":[136],"Flash-Loan-based":[138,163,227],"trading,":[140],"meanwhile,":[142],"we":[143,158,199,217],"have":[144],"started":[145],"witness":[147],"significant":[148],"trading":[150,165,225,229],"using":[152],"Loan.":[154],"In":[155],"this":[156],"research,":[157],"analyze":[159,200],"properties":[161],"detail":[167],"propose":[169],"heuristic-based":[171],"detection":[172,188],"method.":[173],"The":[174],"real-world":[175],"data":[179],"used":[183],"verify":[185],"our":[186],"proposed":[187],"method":[189],"than":[192],"6,000":[193],"transactions":[195,205],"were":[196],"found.":[197],"Moreover,":[198],"relationship":[202],"between":[203,222],"fluctuations":[207],"price":[210],"volume":[212],"targeted":[214],"assets.":[215],"Finally,":[216],"evaluate":[218],"difference":[221],"traditional":[223],"reveal":[231],"attackers'":[233],"motivation.":[234]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":1}],"updated_date":"2026-07-16T13:24:37.021932","created_date":"2025-10-10T00:00:00"}
