A Study of Known Vulnerabilities and Exploit Patterns in Blockchain Smart Contracts

Blockchain smart contracts are pivotal to decentralized applications, yet their security remains a critical challenge. This study analyzes a dataset of 1,000 smart contracts to investigate known vulnerabilities, audit practices, and exploit patterns. The results reveal that audited contracts are significantly less prone to exploitation, with 75% exhibiting no exploit history compared to 55% of non-audited contracts. "Integer Overflow" and "Unchecked Call" were identified as the most prevalent vulnerabilities, contributing to 60% and 50% exploit rates, respectively. The study highlights the importance of transparent audit reporting, as contracts without available reports were exploited in 35% of cases. Additionally, hidden vulnerabilities in ostensibly secure contracts underscore the evolving sophistication of blockchain threats. This research emphasizes the need for robust security practices, including stricter coding standards, comprehensive audits, and advanced vulnerability detection techniques such as formal verification and machine learning. Future works aim to integrate security tools into development workflows and foster industry-wide collaboration to standardize auditing practices, thereby enhancing the security and trustworthiness of blockchain ecosystems.