Blockchain security features
Once blockchain is on the chain, it cannot be tampered with, and vulnerabilities in smart contracts can result in permanent losses. DeFi hackers will lose over $1.7 billion in 2023, with smart contract vulnerabilities accounting for over 70%.
Common vulnerabilities
Re entry attack: The DAO event, the contract calls the external contract before the status update. Integer overflow: There is no overflow check before Solidity 0.8. Permission out of control: The owner's permission is too large and multisig has not been implemented. Random numbers are predictable: block hashing is manipulated by miners as a random number.
Audit tools
Slither (static analysis), MythX (symbolic execution), Echidna (fuzz testing), OpenZeppelin testing framework.
best practices
Using OpenZeppelin security library, auditing before going live, progressive release, pause mechanism, multi signature management, and monitoring abnormal transactions.
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