, 2022-12-23 12:01:36,
Beta users can try out the new tool for free and earn rewards in $HKLS.
Fighting Sandwich Attacks
DeFi security provider, Hackless, is introducing a new tool which helps fight sandwich attacks on BNB Chain and Ethereum. The solution allows making safer swaps by avoiding public mempools and directly submitting transactions to miners.
Leveling up DeFi security
With the rapid development of decentralized exchanges and an ever-growing number of hacks, it has become clear that security is something that needs to be improved immediately. While in traditional finance, this has always been the responsibility of businesses, in DeFi, users can and should also contribute.
Hackless has been designing security solutions, both for DeFi projects and developers, as well as individual users, to protect them from targeted exploits, which include sandwich attacks.
What is a sandwich attack?
Explorers started to perform sandwich attacks not so long ago, yet it has become a very common and profitable front-and-back-running strategy. As published in a TarLogic’s report, between May 2020 and April 2022, a total of 457,691 sandwich attacks were detected with an average ROI above 4%.
When we look closer at this type of attack, we will see that if played smartly, the execution of just two transactions can bring an exploiter quite a significant profit. To do this, attackers usually monitor mempools in search of high-value transactions that can be potentially sandwiched. Once detected, the attacker…
To read the original article from news.google.com Click here