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Blockchain Attack: Wreaking Havoc

  • 13:40
  • Tue
  • 14 Nov
Briefing Stage 2


The rapid proliferation of blockchain technology, particularly Ethereum-based smart contracts, has transformed the way agreements are executed and decentralized applications are developed. Smart contracts, self-executing code residing on blockchain platforms like Ethereum, have revolutionized the landscape of decentralized applications and automated agreements. However, their adoption has raised concerns about security, efficiency, and trustworthiness. The purpose of this talk is to explore the most common issues associated with Ethereum-based smart contracts and highlights real-world hacks that have been exploited resulting in Billions of financial loss. We will also take a quick look into design considerations and present security tools to identify risks before these contracts get deployed.

Discussing top issues, In this part we will be discussing ten pressing issues in Ethereum-based smart contracts, encompassing issues like scalability, interoperability, gas fees, upgradability, complex logic, data privacy, Oracle reliance, standardization, regulatory compliance, user experience. We will go through some of the most common attacks such as re-entrance, arithmetic overflow, privacy and access control issues, and most notable attacks related to those issues for example BEC token

The DAO attack was a pivotal event in the history of Ethereum and the blockchain space as a whole. It sparked debates about governance, immutability, and the balance between code and human intervention. The incident led to changes in development practices, security protocols, and discussions on how to prevent similar vulnerabilities in the future.