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Hacken blockchain security experts have prepared a list of blockchain security issues and vulnerabilities (+attacks) to help your Web3 project mitigate the risks of cyber attacks. The list is intended for crypto entrepreneurs and developers at all layers of blockchain architecture, including Layer 1 and Layer 2 protocols, smart contracts, decentralized apps, tokens, oracles, wallets, centralized crypto exchanges and DEXs, DeFi/governance/DAOs, and NFT marketplaces.

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How to prevent Blockchain security issues?


Blockchain security risks will be specific for each project and depend on design, implementation, and use case factors. 
The following universal cybersecurity essentials are vital for mitigating the risks in most cases.

Regular Smart Contract Security Audits can detect and resolve vulnerabilities before attackers can exploit them. Hacken auditors will verify the code of smart contracts for errors and ensure its accuracy. We support audits in all popular high-level programming languages, including Solidity, Vyper, Rust, and Move. Smart contract audit is essential for empowering reliable and safe decentralized finance. Once deployed to the mainnet, consider using Hacken Extractor — our on-chain smart contract monitoring system to detect threats, possible attacks, and unauthorized address interactions in real time.

If you’re building a new L1 protocol or even an L2 scalability solution, Hacken Blockchain Protocol Audit will protect you from all threats related to consensus, data, and infrastructure. Hacken’s entire L1/L2 Audit Team has passed the C4’s CCSSA certification, so you’ll get the most comprehensive overview of each layer of blockchain architecture.

Secure your Web3 project from data breaches and access control failures with Penetration Testing. Hacken conducts the most comprehensive white-box, black-box, and gray-box pentesting for Web + API, iOS and Android mobile apps, and network infrastructure. Penetration testing will also ensure your dependencies are up-to-date. Hacken is the #1 provider of pentesting services, according to Clutch.

Get robust cross-chain bridge security and crypto wallet integrity by ensuring your off-chain component is securely connected to the blockchain. dApp Audit by Hacken will ensure a secure connection to the blockchain. We support JavaScript, Java, and Rust. dApp Audit is your answer to the most vulnerable part of the application layer security.

Furthermore, all Web3 projects, regardless of scope and specific technology implementations, would greatly benefit from a public or private bug bounty. HackenProof Bug Bounty Platform connects any layer of blockchain architecture to 14k ethical researchers who find bugs for rewards. HackenProof manages all payments with researchers and verifies each bug report for scope. This is the most cost-effective protection measure that involves your community in improving your product.

Following these steps and being proactive regarding your defense will greatly increase your chances of fighting off the attacker and making you the least attractive target.

About Hacken

Hacken is a Trusted Blockchain Security Auditor contributing to industry-wide auditing standards and making Web3 safer since 2017.

FAQ

  • Does blockchain have security issues?

    Blockchain technology faces various challenges and vulnerabilities at all five levels of blockchain architecture, including application, protocol, network, data, and infrastructure layers. These include hacking, lost access control to private keys, and 51% attacks. However, it’s possible to mitigate the risks with the appropriate security measures.

  • What is the biggest problem in blockchain?

    From the architecture standpoint, the biggest problem is achieving a cost-effective interoperable decentralized consensus mechanism while keeping the balance of convenience and reliability. The biggest problem from the adoption point of view relates to insufficient data for objective risk assessment of commercial blockchain implementations. 

  • What are the risks in blockchain?

    The main blockchain risks are related to security, scalability, and regulation. Security risks mean that blockchain-based projects are subject to hacks, exploits, and scams that may lead to serious data breaches or asset losses. Scalability relates to the risk of transaction congestion. Legal risk relates to sudden changes in the regulatory environment.

  • How safe is blockchain security?

    Blockchain security is generally considered safe because it uses cryptographic techniques to encrypt and decrypt data. A blockchain network is secure as long as most validators are trustworthy and do not collaborate to attack the network, unlike dishonest nodes. 

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