A Survey of Attacks on Ethereum Smart Contracts SoK
22 Apr 2017-Vol. 10204, pp 164-186
TL;DR: This work analyses the security vulnerabilities of Ethereum smart contracts, providing a taxonomy of common programming pitfalls which may lead to vulnerabilities, and shows a series of attacks which exploit these vulnerabilities, allowing an adversary to steal money or cause other damage.
Abstract: Smart contracts are computer programs that can be correctly executed by a network of mutually distrusting nodes, without the need of an external trusted authority. Since smart contracts handle and transfer assets of considerable value, besides their correct execution it is also crucial that their implementation is secure against attacks which aim at stealing or tampering the assets. We study this problem in Ethereum, the most well-known and used framework for smart contracts so far. We analyse the security vulnerabilities of Ethereum smart contracts, providing a taxonomy of common programming pitfalls which may lead to vulnerabilities. We show a series of attacks which exploit these vulnerabilities, allowing an adversary to steal money or cause other damage.
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TL;DR: In this article , the authors present a perspective of modern technologies for organizing a foundation for special-purpose financing and consider longevity as a model example of the purpose, and propose a decentralized solution for crisis management in decentralized autonomous organizations.
Abstract: Decentralized autonomous organizations (DAO) launched on a blockchain and governed by a smart contract promises to bring self-organization to a new technological level. Crisis management has no standard decentralized solution within DAO yet. A central authority is a natural component due to compliance reasons in certain domains, for example, special-purpose financing, in which the DAO governance model could be reasonably applied. More generally, a centralized DAO representative could streamline implementing DAO decisions that involve interactions with legacy systems. The article presents a perspective of modern technologies for organizing a foundation for special-purpose financing and considers longevity as a model example of the purpose.
3 citations
Posted Content•
TL;DR: A holistic analysis of the Libra project encompassing several aspects of its implementation and the issues it raises is provided, including the main risks considering at the same time political, financial, economic, technological and ethical risks.
Abstract: Libra was presented as a cryptocurrency on June 18, 2019 by Facebook. On the same day, Facebook announced plans for Calibra, a subsidiary in charge of the development of an electronic wallet and financial services. In view of the primary risk of sovereignty posed by the creation of Libra, the Central Banks quickly took very clear positions against the project and adressed a lot of questions to the responsible of the project focusing on regulation aspects and national sovereignty. The purpose of this paper is to provide a holistic analysis of the project to encompass several aspects of its implementation and the issues it raises. We address a set of questions that are part of the cryptocurrency environment and blockchain technology that supports the Libra project. We identify the main risks considering at the same time: political risks, financial risks, economical risks, technological risks and ethics focusing on the governance of the project based on two levels: one for the Association and the other for the Libra Blockchain. We emphazise the difficulty to regulate such a project as soon as it will depend on several countries whose legislations are very different. The future of this kind of project is discussed through the emergence of the Central Bank Digital Currencies.
3 citations
Cites background from "A Survey of Attacks on Ethereum Sma..."
...Attacks of smart contracts on the Ethereum platform are frequent [3]....
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TL;DR: IR-Fuzz as discussed by the authors extends a function invocation sequence by adding a new sequence, which can start fuzzing from states that are different from the initial state of the function invocation.
Abstract: Blockchain smart contracts have given rise to a variety of interesting and compelling applications and emerged as a revolutionary force for the Internet. Smart contracts from various fields now hold over one trillion dollars worth of virtual coins, attracting numerous attacks. Quite a few practitioners have devoted themselves to developing tools for detecting bugs in smart contracts. One line of efforts revolve around static analysis techniques, which heavily suffer from high false positive rates. Another line of works concentrate on fuzzing techniques. Unfortunately, current fuzzing approaches for smart contracts tend to conduct fuzzing starting from the initial state of the contract, which expends too much energy revolving around the initial state of the contract and thus is usually unable to unearth bugs triggered by other states. Moreover, most existing methods treat each branch equally, failing to take care of the branches that are rare or more likely to possess bugs. This might lead to resources wasted on normal branches. In this paper, we try to tackle these challenges from three aspects: 1) generating function invocation sequences, we explicitly consider data dependencies between functions to facilitate exploring richer states. We further prolong a function invocation sequence $\mathcal {S}_{1}$ by appending a new sequence $\mathcal {S}_{2}$ , so that the appended sequence $\mathcal {S}_{2}$ can start fuzzing from states that are different from the initial state; 2) we incorporate a branch distance-based measure to evolve test cases iteratively towards a target branch; 3) we engage a branch search algorithm to discover rare and vulnerable branches, and design an energy allocation mechanism to take care of exercising these crucial branches. We implement IR-Fuzz and extensively evaluate it over 12K real-world contracts. Empirical results show that: (i) IR-Fuzz achieves 28% higher branch coverage than state-of-the-art fuzzing approaches, (ii) IR-Fuzz detects more vulnerabilities and increases the average accuracy of vulnerability detection by 7% over current methods, and (iii) IR-Fuzz is fast, generating an average of 350 test cases per second. Our implementation and dataset are released at https://github.com/Messi-Q/IR-Fuzz, hoping to facilitate future research.
3 citations
16 Sep 2022
TL;DR: A detailed study of smart contract-specific vulnerabilities and the defense against those vulnerabilities are presented in this article , where different security measures or precautions to be taken while writing the smart contract code is discussed in this article.
Abstract: Blockchain smart contracts are prevalent nowadays as numerous applications are developed based on this feature. Though smart contracts are important and widely used, they contain certain vulnerabilities. This paper discusses various security issues that arise in smart contract applications. They are categorized in the smart contract platform, the applications that integrate with the Blockchain, and the vulnerabilities in smart contract code. A detailed study of smart contract-specific vulnerabilities and the defense against those vulnerabilities are presented in this article. Because of certain limitations of platforms or programming language used to write smart contract, there are possibilities of attacks on smart contracts. Hence different security measures or precautions to be taken while writing the smart contract code is discussed in this article. This will prevent the potential attacks happening on Blockchain distributed applications.
3 citations
References
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01 Jan 2002TL;DR: This presentation discusses Functional Programming in HOL, which aims to provide students with an understanding of the programming language through the lens of Haskell.
Abstract: Elementary Techniques.- 1. The Basics.- 2. Functional Programming in HOL.- 3. More Functional Programming.- 4. Presenting Theories.- Logic and Sets.- 5. The Rules of the Game.- 6. Sets, Functions, and Relations.- 7. Inductively Defined Sets.- Advanced Material.- 8. More about Types.- 9. Advanced Simplification, Recursion, and Induction.- 10. Case Study: Verifying a Security Protocol.
2,964 citations
01 Jan 2013
TL;DR: Ethereum as mentioned in this paper is a transactional singleton machine with shared state, which can be seen as a simple application on a decentralised, but singleton, compute resource, and it provides a plurality of resources, each with a distinct state and operating code but able to interact through a message-passing framework with others.
Abstract: The blockchain paradigm when coupled with cryptographically-secured transactions has demonstrated its
utility through a number of projects, not least Bitcoin. Each such project can be seen as a simple application on a decentralised, but singleton, compute resource. We can call this paradigm a transactional singleton machine with shared-state.
Ethereum implements this paradigm in a generalised manner. Furthermore it provides a plurality of such resources, each with a distinct state and operating code but able to interact through a message-passing framework with others. We discuss its design, implementation issues, the opportunities it provides and the future hurdles we envisage.
2,755 citations
TL;DR: Protocols with application in important contracting areas, including credit, content rights management, payment systems, and contracts with bearer are discussed.
Abstract: Smart contracts combine protocols with user interfaces to formalize and secure relationships over computer networks. Objectives and principles for the design of these systems are derived from legal principles, economic theory, and theories of reliable and secure protocols. Similarities and differences between smart contracts and traditional business procedures based on written contracts, controls, and static forms are discussed. By using cryptographic and other security mechanisms, we can secure many algorithmically specifiable relationships from breach by principals, and from eavesdropping or malicious interference by third parties, up to considerations of time, user interface, and completeness of the algorithmic specification. This article discusses protocols with application in important contracting areas, including credit, content rights management, payment systems, and contracts with bearer.
1,495 citations
24 Oct 2016
TL;DR: This paper introduces a novel quantitative framework to analyse the security and performance implications of various consensus and network parameters of PoW blockchains and devise optimal adversarial strategies for double-spending and selfish mining while taking into account real world constraints.
Abstract: Proof of Work (PoW) powered blockchains currently account for more than 90% of the total market capitalization of existing digital cryptocurrencies. Although the security provisions of Bitcoin have been thoroughly analysed, the security guarantees of variant (forked) PoW blockchains (which were instantiated with different parameters) have not received much attention in the literature. This opens the question whether existing security analysis of Bitcoin's PoW applies to other implementations which have been instantiated with different consensus and/or network parameters. In this paper, we introduce a novel quantitative framework to analyse the security and performance implications of various consensus and network parameters of PoW blockchains. Based on our framework, we devise optimal adversarial strategies for double-spending and selfish mining while taking into account real world constraints such as network propagation, different block sizes, block generation intervals, information propagation mechanism, and the impact of eclipse attacks. Our framework therefore allows us to capture existing PoW-based deployments as well as PoW blockchain variants that are instantiated with different parameters, and to objectively compare the tradeoffs between their performance and security provisions.
1,258 citations
24 Oct 2016
TL;DR: This paper investigates the security of running smart contracts based on Ethereum in an open distributed network like those of cryptocurrencies, and proposes ways to enhance the operational semantics of Ethereum to make contracts less vulnerable.
Abstract: Cryptocurrencies record transactions in a decentralized data structure called a blockchain. Two of the most popular cryptocurrencies, Bitcoin and Ethereum, support the feature to encode rules or scripts for processing transactions. This feature has evolved to give practical shape to the ideas of smart contracts, or full-fledged programs that are run on blockchains. Recently, Ethereum's smart contract system has seen steady adoption, supporting tens of thousands of contracts, holding millions dollars worth of virtual coins. In this paper, we investigate the security of running smart contracts based on Ethereum in an open distributed network like those of cryptocurrencies. We introduce several new security problems in which an adversary can manipulate smart contract execution to gain profit. These bugs suggest subtle gaps in the understanding of the distributed semantics of the underlying platform. As a refinement, we propose ways to enhance the operational semantics of Ethereum to make contracts less vulnerable. For developers writing contracts for the existing Ethereum system, we build a symbolic execution tool called Oyente to find potential security bugs. Among 19, 336 existing Ethereum contracts, Oyente flags 8, 833 of them as vulnerable, including the TheDAO bug which led to a 60 million US dollar loss in June 2016. We also discuss the severity of other attacks for several case studies which have source code available and confirm the attacks (which target only our accounts) in the main Ethereum network.
1,232 citations