Here are three specific DeFi smart contract vulnerabilities commonly identified in professional security audits, described with technical precision suitable for an audit report.
1. Reentrancy Vulnerability (CWE-207)
Description:
Reentrancy occurs when an external smart contract call is made before the internal state changes associated with that call are complete. If the called contract is malicious, it can re-enter the original contract and execute the vulnerable function again before the state update, leading to duplicate withdrawals or state corruption.
Specific Example:
A withdraw() function transfers ETH to the user via address(user).call{value: amount}("") before updating the user’s balance in the contract’s storage mapping (balances[user] -= amount). A malicious user can deploy a contract that, upon receiving ETH, calls withdraw() again. Since the balance hasn’t been decremented yet, the second call also sees the full balance and succeeds, draining the contract.
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