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In this paper, we study the denial-of-service (DoS) attack on secondary users in a cognitive radio network by primary user emulation (PUE). Most approaches in the literature on primary user emulation attacks (PUEA) discuss mechanisms to deal with the attacks but not analytical models. Simulation studies and results from test beds have been presented but no analytical model relating the various parameters that could cause a PUE attack has been proposed and studied. We propose an analytical approach based on Fenton's approximation and Markov inequality and obtain a lower bound on the probability of a successful PUEA on a secondary user by a set of co-operating malicious users. We consider a fading wireless environment and discuss the various parameters that can affect the feasibility of a PUEA. We show that the probability of a successful PUEA increases with the distance between the primary transmitter and secondary users. This is the first analytical treatment to study the feasibility of a PUEA.