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Crypto Security, From Defense to Incident Response
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Security Fundamentals

Lead · Security Fundamentals

$60 Million, One Hard Fork, and a Mistake Still Being Made a Decade Later: The Full Story of Reentrancy Attacks

Reentrancy's share of losses has dropped nearly twenty percentage points over a decade, but that doesn't mean the vulnerability vanished — it just stopped being attackers' first choice, while remaining an old landmine any new protocol can still step on.
If you had to pick one event as the starting point for the entire Smart Contract security industry, most people in the field would pick the 2016 DAO incident. That's not just because of its scale (roughly $60 million worth of Ether stolen at the time), but because it left behind a conclusion that's still being re-verified today: the code logic flaw that caused that accident a decade ago is...
"Reentrancy's share of losses has dropped nearly twenty percentage points over a decade, but that doesn't mean the vulnerability vanished — it just stopped being attackers' first choice, while remaining an old landmine any new protocol can still step on."
— SAFU Bible
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