In　an　anisotropic　conductive　adhesive　(ACA)　assembly,　the　electrical　conduction　is　usually　achieved　with　the　conductive　particles　between　the　bumps　of　integrated　circuit　(IC)　and　corresponding　conductive　tracks　on　the　glass　substrate.　Fully　understanding　of　the　mechanical　and　electrical　characteristics　of　ACA　particles　can　help　to　optimize　the　assembly　process　and　improve　the　reliability　of　ACA　interconnection.　Most　conductive　particles　used　in　the　ACA　assembly　are　with　cracks　in　the　metal　coating　of　the　particles　after　the　ACA　bonding.　This　paper　introduced　the　fracture　analysis　by　applying　the　cohesive　elements　in　the　numerical　model　of　the　nickel-coated　polymer　particle　and　further　simulating　the　cracks　initiation　and　propagation　in　the　nickel　coating　during　the　ACA.　bonding.　The　simulation　results　showed　that　the　stress　distribution　on　the　nickel-coated　particle　with　cracks　was　significantly　different　from　that　on　the　nickel-coated　particle　without　crack,　indicating　that　the　stress　analysis　by　taking　the　crack　into　consideration　is　very　important　for　the　reliability　assessment　of　the　ACA　interconnection.　The　stress　analysis　of　cohesive　elements　indicated　that　the　cracks　initiated　at　the　central　area　of　the　nickel　coating　and　propagated　to　the　polar　area.　Furthermore,　by　the　introduction　of　a　new　parameter　of　the　virtual　resistance,　a　mathematical　model　was　established　to　describe　the　electrical　characteristics　of　the　nickel-coated　particle　with　cracks.　The　particle　resistance　of　the　nickel-coated　particle　with　cracks　was　found　to　be　much　higher　than　that　of　the　particle　without　crack　in　the　optimized　bonding　pressure　range,　indicating　that　it　is　necessary　to　take　the　crack　into　consideration　for　the　particle　conduction　analysis　as　well.　Therefore,　the　fracture　analysis　on　the　conductive　particle　by　taking　the　crack　into　consideration　could　accurately　evaluate　the　reliability　of　ACA　interconnection　and　avoid　serious　reliability　issues.