Smart Contract Vulnerabilities

In our Education blog, Hacken has already covered the basics of a smart contract security audit, the most common smart contract vulnerabilities, and our smart contract audit methodology. To recap, a smart contract is an automated agreement between parties that is executed when all predefined conditions are met. Smart contracts are the backbone of all transactions. Thus, we should be aware of specific smart contract vulnerabilities that our auditors encounter in real projects and their classification under industry standards.

It is worth noting that the vulnerabilities featured in the list below are recognized as industry standards. They are classified in the Smart Contract Weakness (SWC) registry. The SWC registry is the holy grail of smart contract weaknesses. The registry serves as a foundation for a standardized identification of vulnerabilities in smart contracts. We also provide the link to the Common Weakness Enumeration CWE base where you can learn more about each vulnerability. CWE base is a community-developed list of software and hardware weakness types serving as a baseline for weakness identification.

The following is the list of all smart contract vulnerabilities we look for when conducting crypto audits for all networks, including our most popular service – Ethereum smart contract audit.

It is understandable that some vulnerabilities are more prevalent than others. In practice, it may be difficult to categorize a particular vulnerability under one category in the SWC registry. To that end, we want to share with you the most common smart contract vulnerabilities that Hacken auditors deal with. These include arithmetic over/underflows, default visibilities, entropy illusions, race conditions/front running, DoS, re-entrancy, constructions with care, and tx.origin authentication. In our smart contract audit reports, we also often recognize function calls with an incorrect argument, deserialization of untrusted data, numeric errors, improper initialization, improper input validation, privilege escalation, and improper synchronization.

This is a comprehensive and classified list of all possible smart contract vulnerabilities. If these weaknesses do not tell you anything, they may be too difficult for a general reader to comprehend. No worries, though. Our brilliant auditors know everything about each vulnerability and how to find them.

In this article, we wanted to emphasize that smart contract audits are difficult. Many companies offer smart contract services, but only a few can produce audits of exceptional quality. Delivering an effective and protective smart contract audit requires special knowledge and experience. At Hacken, we prioritize learning and excellence. That’s why our security experts always follow best practices and focus on industry standards when it comes to smart contract vulnerability identification.

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