🚨 Shocking Smart Contract Exploits You Need to Know! And How to Avoid Them 🚨

Learn from recent attacks to secure your project:

1️⃣ Euler Finance Hack (2023) - $197M loss
What Happened: Euler Finance was hit by a flash loan attack exploiting vulnerable code that allowed unauthorized liquidation, manipulating token prices and draining funds.
Solution: Implement stringent checks for flash loans and enhance protocol security through rigorous code audits and simulations.

2️⃣ Sentinel Protocol Exploit (2023) - $150M drained

What Happened: The attacker found a loophole in the bonding curve mechanism, manipulating pricing data to drain the protocol by minting tokens at a significantly undervalued rate.
Solution: Secure bonding curves and pricing oracles, and validate input data through multiple sources.

3️⃣ Mango Markets Exploit (2023) - $114M loss

What Happened: The attacker manipulated the price of Mango’s native token via low liquidity to borrow funds beyond the collateral’s worth, draining the protocol.
Solution: Implement robust price oracles, limit borrowing power, and monitor for abnormal trading behavior.

4️⃣ Level Finance Exploit (2024) - $1.1M loss

What Happened: A bug in the reward calculation allowed the attacker to claim rewards multiple times, draining the protocol gradually through repeated exploitation.
Solution: Validate all reward claims, add safeguards against repeated claims, and regularly audit reward mechanisms.

5️⃣ Tornado Cash Governance Attack (2023) - $20M taken
What Happened: An attacker gained control of the governance contract using a malicious proposal, allowing them to drain funds from the treasury without proper checks.
Solution: Strengthen governance security with time locks, community review, and enhanced multisig controls.

Staying updated on these attacks helps fortify your smart contracts against evolving threats!🛡️

#smartcontracts #BlockchainSecurity #Write2Earn! #AuditAwareness