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Network virtualization enables multi-tenancy over physical network infrastructure, with a side-effect of increased network complexity. Software-defined networking (SDN) is a novel network architectural model – one where the control plane is separated from the data plane by a standardized API – which aims to reduce the network management overhead. However, as the SDN model itself is evolving, its application to multi-tenant virtualized networks raises multiple security challenges. In this paper, we present a security analysis of SDN- based multi-tenant virtualized networks: we outline the security assumptions applicable to such networks, define the relevant adversarial model, identify the main attack vectors for such network infrastructure deployments and finally synthesize a set of high-level security requirements for SDN-based multi-tenant virtualized networks. This paper sets the foundation for future design of secure SDN-based multi-tenant virtualized networks.