Decentralized Finance (DeFi) is emerging as a peer-to-peer financial ecosystem, enabling participants to trade products on a permissionless blockchain. Built on blockchain and smart contracts, the DeFi ecosystem has experienced explosive growth in recent years. Unfortunately, smart contracts hold a massive amount of value, making them an attractive target for attacks. So far, attacks against smart contracts and DeFi protocols have resulted in billions of dollars in financial losses, severely threatening the security of the entire DeFi ecosystem. Researchers have proposed various security tools for smart contracts and DeFi protocols as countermeasures. However, a comprehensive investigation of these efforts is still lacking, leaving a crucial gap in our understanding of how to enhance the security posture of the smart contract and DeFi landscape. To fill the gap, this paper reviews the progress made in the field of smart contract and DeFi security from the perspective of both vulnerability detection and automated repair. First, we analyze the DeFi smart contract security issues and challenges. Specifically, we lucubrate various DeFi attack incidents and summarize the attacks into six categories. Then, we present an empirical study of 42 state-of-the-art techniques that can detect smart contract and DeFi vulnerabilities. In particular, we evaluate the effectiveness of traditional smart contract bug detection tools in analyzing complex DeFi protocols. Additionally, we investigate 8 existing automated repair tools for smart contracts and DeFi protocols, providing insight into their advantages and disadvantages. To make this work useful for as wide of an audience as possible, we also identify several open issues and challenges in the DeFi ecosystem that should be addressed in the future.