Smart contract vulnerabilities and how to fix them
Introduction: What Are Smart Contract Vulnerabilities and Why They Matter
Smart contracts are a key blockchain technology that promises process automation and reliability. However, these programs are not without their weaknesses. Smart contract vulnerabilities have already caused multi-million dollar losses for the industry. Smart contract exploits can threaten not only specific users but entire ecosystems, undermining investor confidence.
Fortunately, AI in blockchain has become a powerful tool for vulnerability detection and the creation of new security standards. AI-based tools, such as SCONE-bench, help analyze threats and identify critical errors that lead to losses.
Case Study: SCONE-bench Testing and Research Results
Anthropic conducted large-scale testing of smart contracts using the new SCONE-bench benchmark. During the experiment, 405 contracts from popular blockchains such as Ethereum, Base, and BNB Smart Chain were tested. The results are impressive:
- 207 successful attacks totaling $550.1 million were identified.
- AI models, including GPT-5 and Sonnet 4.5, helped discover two new zero-day vulnerabilities.
- Simulated attacks revealed a general weakness in smart contracts, especially in DeFi applications.
These data demonstrate the need for improved approaches to contract development and testing.
Risks for the User: What Threats to Expect
Smart contract vulnerabilities affect a wide range of users:
- DeFi Token Holders: Loss of liquidity, attacks on liquidity pools.
- NFT Owners: Theft of digital assets and manipulation of token rarity.
- Businesses and Corporations: Direct losses and reputational risks.
The economic consequences of attacks are massive and hinder the sector's development. In an environment of dynamic market growth, the increasing threat of exploits is particularly relevant.
How to Protect Yourself: Risk Mitigation Strategies
Ensuring smart contract security must be a priority. Here are key recommendations for protecting your assets:
- Conducting Audits: Before deploying a contract, be sure to conduct an audit involving qualified auditing agencies such as CertiK or OpenZeppelin.
- AI Integration: Use advanced AI solutions in blockchain, such as SCONE, for detailed code analysis and identification of potential errors.
- Two-Step Address Verification: Before every transfer, check the recipient's address for sanction tags and traces of "dirty" crypto. This can be done using AML screening tools.
- Regular Wallet Health Checks: Use KYC and secure methods to analyze related transactions. This will help minimize the risks of account blocking or asset freezing.
All these measures will help reduce the likelihood of an attack and minimize potential financial losses.
The Role of AML Checking: Wallets and Security on a New Level
AML screening (Anti-Money Laundering) is becoming an integral part of the blockchain ecosystem. Checking wallets for sanction tags and using KYC tools helps companies and wallet owners avoid interacting with "dirty" crypto and increases overall security. These mechanisms are especially useful in the fight against money laundering, reducing the risk of your assets being frozen due to suspicious transactions.
Integrating AI for automated monitoring improves scanning accuracy, providing real-time support for security systems.
Conclusion: A New Era of Smart Contract Security
Artificial intelligence, SCONE-bench, and modern approaches to security management mark the beginning of a new era in smart contract technology. Such solutions allow not only for the identification of vulnerabilities but also for the prevention of their exploitation. The implementation of such innovations contributes to the creation of a more reliable and secure blockchain infrastructure, which, in turn, strengthens trust in this rapidly developing industry.
Now, more than ever before, the security of your assets directly depends on your readiness to use modern technologies and security approaches.
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