To dive deeper, check out the complete article from original source:https://droomdroom.com/top-smart-contract-vulnerabilities/

Smart contracts revolutionize decentralized finance (DeFi) with their immutability and security, but they aren’t immune to vulnerabilities. 🚨 In Q1 2024 alone, hackers exploited smart contract flaws, stealing over $430M in just 50 attacks. Here are 5 common vulnerabilities and how to tackle them:

1️⃣ Reentry Attacks: Hackers exploit external calls to recursively drain funds. Prevent this by updating balances before external calls and using advanced function modifiers.

2️⃣ Gas Griefing: Malicious users halt contract execution by paying insufficient gas fees. Ensure sufficient gas for all operations and reject low-fee transactions.

3️⃣ Oracle Manipulation: Oracles fetch off-chain data, which hackers can manipulate to deceive DeFi apps. Use decentralized oracles like Chainlink, multiple data sources, or time-weighted average pricing to mitigate this risk.

4️⃣ Frontrunning Attacks: Visible transactions on the blockchain can be copied and prioritized by paying higher gas fees. Batch processing, commit-reveal schemes, and gas caps can counteract these attacks.

5️⃣ Integer Overflow/Underflow: Arithmetic errors in Solidity can disrupt contract logic. Use Solidity 0.8.0+ or SafeMath libraries to detect and reverse such errors.

💡 Smart contract vulnerabilities threaten trust in DeFi. By implementing these protective measures, developers can build safer, more reliable decentralized systems, fostering confidence and adoption. 🔒 Decentralized innovation starts with secure foundations! 🚀