Cybersecurity Test Bed for Smart Contracts

Abstract

Blockchain, smart contracts, and related concepts have emerged in recent years as a promising technology for cryptocurrency, NFTs, and other areas. However, there are still many security issues that must be addressed as these technologies evolve. This paper reviews some of the leading social engineering attacks on smart contracts, as well as several vulnerabilities which result from insecure code development. A smart contract test bed is constructed using Solidity and a Metamask wallet to evaluate vulnerabilities such as insecure arithmetic, denial of service, and re-entrancy attacks. Cross-chain vulnerabilities and potential vulnerabilities resulting from layer 2 side-chain processing were also investigated. Mitigation best practices are proposed based on the experimental results.