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arxiv: 2604.13611 · v2 · submitted 2026-04-15 · 💻 cs.SE

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V2E: Validating Smart Contract Vulnerabilities through Profit-driven Exploit Generation and Execution

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Pith reviewed 2026-05-10 13:20 UTC · model grok-4.3

classification 💻 cs.SE
keywords smart contractvulnerability validationproof-of-concept exploitLLMblockchainexploit generationfalse positive reduction
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The pith

V2E uses LLM-generated PoCs and execution feedback to validate whether smart contract vulnerabilities are truly exploitable and profitable.

A machine-rendered reading of the paper's core claim, the machinery that carries it, and where it could break.

This paper presents V2E as a way to move beyond pattern-based vulnerability reports in smart contracts by automatically creating and testing executable exploits. The system generates PoCs targeted at potential vulnerability paths, checks if they can be triggered and cause financial loss, and refines them using results from actual execution. This tackles the high rate of false positives that overwhelm auditors and developers. By focusing on triggerability and profitability, V2E provides a practical way to confirm real risks in blockchain code.

Core claim

V2E automates the generation of targeted Proof-of-Concept exploits by analyzing vulnerability paths, validates them through triggerability and profitability analysis, and iteratively refines the PoCs based on execution feedback to increase the likelihood of confirming actual vulnerabilities.

What carries the argument

The V2E pipeline combining LLM-based PoC generation, automated triggerability and profitability checks, and iterative refinement from execution results.

Load-bearing premise

LLMs can generate and iteratively update PoCs that reliably trigger the specific reported vulnerabilities, and the profitability analysis correctly distinguishes exploitable issues from non-issues.

What would settle it

Applying V2E to a benchmark of smart contracts with known non-exploitable vulnerabilities and observing if it incorrectly validates them as exploitable.

Figures

Figures reproduced from arXiv: 2604.13611 by Jingwen Zhang, Kaiwen Ning, Mingxi Ye, Wei Li, Weizhe Zhang, Yuhong Nan, Yuming Feng, Yuming Xiao, Zibin Zheng.

Figure 1
Figure 1. Figure 1: An example of vulnerability validating process in [PITH_FULL_IMAGE:figures/full_fig_p003_1.png] view at source ↗
Figure 2
Figure 2. Figure 2: Motivating example. Even for the same vulnerability, different compile versions lead to different [PITH_FULL_IMAGE:figures/full_fig_p004_2.png] view at source ↗
Figure 3
Figure 3. Figure 3: The vulnerability validation process for motivating example in Fig. [PITH_FULL_IMAGE:figures/full_fig_p005_3.png] view at source ↗
Figure 4
Figure 4. Figure 4: The detailed workflow of V2E. functions that affect the state reading in vulnerable functions, it is possible to build vulnerability exploit paths. Note that smart contracts often include access control mechanisms, such as restricting access to specific accounts or preventing direct external calls. Thus, access control analysis can reduce ineffective detections and false positives. Besides, V2E initializes… view at source ↗
Figure 5
Figure 5. Figure 5: The prompt template used for PoC synthesis. [PITH_FULL_IMAGE:figures/full_fig_p008_5.png] view at source ↗
Figure 6
Figure 6. Figure 6: A False Negative caused by a lack of mathematical reasoning capabilities. [PITH_FULL_IMAGE:figures/full_fig_p014_6.png] view at source ↗
Figure 7
Figure 7. Figure 7: Case study. Two real on-chain contract code snippets, each flagged as vulnerable by detection tools. [PITH_FULL_IMAGE:figures/full_fig_p018_7.png] view at source ↗
read the original abstract

Smart contracts are a critical component of blockchain systems. Due to the large amount of digital assets carried by smart contracts, their security is of critical importance. Although numerous tools have been developed for detecting smart contract vulnerability, their effectiveness remains limited, particularly due to the high false positives included in the reported results. Therefore, developers and auditors are often overwhelmed with manually verifying the reported issues. A fundamental reason behind this is that while a reported vulnerability satisfies specific vulnerable patterns, it may not actually be exploitable, either because the vulnerable code cannot be triggered or it does not result in any financial loss. In this paper, we propose V2E, a new framework for validating whether a reported vulnerability is truly exploitable. The core idea of V2E is to automatically generate executable Proof-of-Concept Exploit (PoC for short), and then assess if the vulnerability could be triggered and incur any real damage (i.e., causing financial loss) by the PoC. While LLMs have shown proficiency in PoC generation, achieving our task is by no means trivial. In detail, it is difficult for LLM to: (1) generate and update PoC to trigger a specific vulnerability, (2) evaluate the PoC's effectiveness to validate exploitable vulnerability. To this end, V2E automates the whole process through a novel combination of PoC generation, validation, and refinement: (1) Firstly, V2E generates targeted PoCs by analyzing potential vulnerability paths. (2) Then, V2E verifies the validity of PoCs through triggerability and profitability analysis. (3) In addition, V2E iteratively refines the generated PoC based on PoC execution feedback, therefore, increasing the chance to confirm the vulnerability. Evaluation on 264 manually labeled contracts shows that V2E outperforms the baseline approach.

Editorial analysis

A structured set of objections, weighed in public.

Desk editor's note, referee report, simulated authors' rebuttal, and a circularity audit. Tearing a paper down is the easy half of reading it; the pith above is the substance, this is the friction.

Referee Report

2 major / 1 minor

Summary. The paper introduces V2E, a framework designed to validate reported smart contract vulnerabilities by generating, validating, and refining Proof-of-Concept (PoC) exploits using large language models (LLMs). The approach involves analyzing vulnerability paths to create targeted PoCs, assessing their triggerability and profitability to confirm potential financial loss, and iteratively refining the PoCs based on execution feedback. An evaluation on 264 manually labeled contracts is presented, claiming superior performance compared to a baseline method.

Significance. Should the approach prove effective, V2E has the potential to significantly alleviate the burden of manual verification for smart contract auditors and developers by automatically distinguishing exploitable vulnerabilities from false positives. This is particularly valuable in blockchain ecosystems where vulnerabilities can lead to substantial financial losses, thereby enhancing the overall security and trustworthiness of smart contract deployments.

major comments (2)
  1. Abstract: The evaluation on 264 manually labeled contracts is said to show outperformance, but no specifics are provided regarding the baseline approach, performance metrics (e.g., accuracy, precision), statistical significance, data selection process, or the definition and measurement of profitability. This omission is load-bearing as it prevents verification of whether the results genuinely support the framework's ability to reduce false positives.
  2. V2E Framework Description (PoC generation, validation, and refinement): The iterative refinement process based on PoC execution feedback lacks details on how feedback (e.g., execution logs, balance deltas, revert reasons) is parsed and incorporated into LLM prompts without risking hallucinations or incorrect updates. Additionally, the exact criteria for triggerability and profitability analysis, especially handling complex interactions like reentrancy or external calls, are not elaborated, raising concerns about false positives in validation.
minor comments (1)
  1. Abstract: The term 'baseline approach' is mentioned without any description; a brief characterization in the abstract or a reference to the specific method would improve clarity.

Simulated Author's Rebuttal

2 responses · 0 unresolved

We thank the referee for the constructive comments on our paper. We address the major comments point by point below, indicating planned revisions to enhance the manuscript.

read point-by-point responses
  1. Referee: Abstract: The evaluation on 264 manually labeled contracts is said to show outperformance, but no specifics are provided regarding the baseline approach, performance metrics (e.g., accuracy, precision), statistical significance, data selection process, or the definition and measurement of profitability. This omission is load-bearing as it prevents verification of whether the results genuinely support the framework's ability to reduce false positives.

    Authors: We acknowledge that the abstract provides only a high-level overview of the evaluation results. The detailed information on the baseline approach, performance metrics including precision, recall, and F1-score, the data selection from a set of 264 labeled contracts with ground truth, and the profitability measurement based on simulated balance changes are elaborated in the Evaluation section of the manuscript. To make the abstract more self-contained, we will revise it to include brief mentions of the key metrics, baseline, and profitability validation. We will also ensure statistical significance is reported in the evaluation section. revision: yes

  2. Referee: V2E Framework Description (PoC generation, validation, and refinement): The iterative refinement process based on PoC execution feedback lacks details on how feedback (e.g., execution logs, balance deltas, revert reasons) is parsed and incorporated into LLM prompts without risking hallucinations or incorrect updates. Additionally, the exact criteria for triggerability and profitability analysis, especially handling complex interactions like reentrancy or external calls, are not elaborated, raising concerns about false positives in validation.

    Authors: We appreciate this feedback on the framework description. The manuscript outlines the iterative refinement where PoC execution results are used to update the LLM prompts for better PoCs. To address the lack of details, we will expand this section with more precise descriptions of how feedback is processed (e.g., extracting revert reasons and balance deltas and including them in structured prompts) and measures to reduce hallucinations, such as using few-shot examples. For the criteria, triggerability is determined by whether the PoC executes the vulnerable function without reverting, and profitability by whether the attacker's balance increases. For complex cases like reentrancy, the framework supports multi-transaction PoCs to simulate such attacks. We will add explicit criteria and examples in the revision to clarify and reduce concerns about false positives. revision: yes

Circularity Check

0 steps flagged

No circularity; empirical validation stands on independent evaluation

full rationale

The paper describes an LLM-assisted framework (V2E) for generating, validating, and refining PoCs via vulnerability-path analysis, triggerability/profitability checks, and execution feedback. Its claims rest on an empirical evaluation over 264 manually labeled contracts that reports outperformance versus a baseline. No equations, fitted parameters renamed as predictions, self-definitional loops, or load-bearing self-citations appear in the derivation. The central argument is therefore self-contained against external benchmarks rather than reducing to its own inputs by construction.

Axiom & Free-Parameter Ledger

0 free parameters · 1 axioms · 0 invented entities

The approach rests on the domain assumption that LLMs can be effectively prompted for exploit code and that profitability can be automatically assessed from execution. No free parameters or new invented entities are introduced in the abstract.

axioms (1)
  • domain assumption LLMs have sufficient proficiency in generating and updating PoC code for smart contract vulnerabilities when given vulnerability path analysis
    Stated directly in the abstract as the basis for the generation and refinement steps.

pith-pipeline@v0.9.0 · 5668 in / 1375 out tokens · 41361 ms · 2026-05-10T13:20:43.025829+00:00 · methodology

discussion (0)

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