Every day, a new publication on information systems highlights about Cloud of Things (CoT) vulnerabilities; in most of these publications, vulnerability is quoted as the most substantial barrier for CoT realization. However, formulating a justifiable appraisement of the actual vulnerability impact on CoT is difficult because in many of these publications, the term security “vulnerability” is stated incorrectly as a threat or the publication does not discuss CoT-specific vulnerabilities. To achieve a well-founded understanding of CoT vulnerabilities, this literature review identifies the major vulnerabilities and their security controls and to identify any gaps for future research. A systematic literature review (SLR) approach using 58 articles is considered for this review. Based on this review, a taxonomy is created to classify the existing CoT vulnerabilities and security controls. This literature review identifies and discusses similarities and differences among various vulnerability issues and solutions. Most reviews previously performed were limited to the threats to the application interface and virtualization level, whereas this SLR thesis expand to the vulnerabilities in connectivity and things level of CoT. This study emphasize the importance of a clear definition of cloud of things vulnerabilities and to facilitate better understanding and assessment of CoT vulnerabilities to build more secure systems.