Chainalysis: Unverified smart contracts are becoming hackers’ preferred targets, with losses of over $36.7 million in the past several months.

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Golden Finance reports that on June 10th, blockchain analysis firm Chainalysis released a report indicating that attackers are increasingly targeting unverified smart contracts. Over the past six months, at least four DeFi protocols using unverified contracts have been attacked, with total losses of approximately $36.7 million.
The report suggests that with the development of decompilation tools like Dedaub and Panoramix, as well as AI large models capable of quickly analyzing decompiled bytecode, attackers can now batch scan on-chain unverified contracts, automatically identify vulnerabilities such as reentrancy attacks, permission control flaws, and arithmetic overflows, and select the most valuable targets for attack.
Chainalysis states that while unverified contracts reduce the difficulty for outsiders to directly review source code, they also lose the security protections provided by white-hat researchers, community audits, and bug bounty programs. A typical case is the Truebit attack in January this year, where attackers exploited an integer overflow vulnerability in a contract that had never publicly verified its source code since deployment in 2021, stealing about $26.2 million.
Against the backdrop of continuously improving AI-assisted vulnerability discovery capabilities, the model of “relying on code obfuscation for security” is rapidly becoming ineffective. Chainalysis recommends that protocols treat source code verification as the minimum security standard and strengthen real-time on-chain monitoring and bug bounty coverage to reduce potential attack risks.
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