Recently a major Defi attack has shook the entire Crypto community, with a user loss of more than $ 700,000. This attack is known as “Sandwich Attack”, which is a type of front-hanging attack. In this attack, the attacker transacted the seller before and after the transaction and manipulated it, causing him a huge loss. Experts believe that this attack was not only a simple security breech, but it could probably be a money laundering attempt. In this article, we will understand the sandwich attack and will also discuss the rescue process against it.
Sandwich Assault Mechanism of
Sandwich Assault is a type of front-hanging attack, in which the attackers manipulate the price before and after the transactions of Victim’s transactions. In such an attack, Victim is damaged when they do not understand that something is going wrong with their transactions.
In this recent attack, a trader tried to convert around $ 732,000 USDC into Tether (USDT). The attacker first made the transaction of Victim using a MeV (Maximal Extractable Worth) bot. This process affected the value of that token and Victim received only $ 19,000 USDT instead of the expected $ 732,000.
Additionally, the attacker also gave a tip of $ 200,000 to the block builders to prioritize their transactions, which increased the possibility of this attack succeeding. This entire phenomenon is suspicious for some experts and many people are seeing it as money laundering. Usdt Worth Click on the link to know about.
Sandwich Assault Prevention process
Some important steps can be taken to avoid Sandwich Assault:
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Security from mev bots: Sellers should try to fulfill their transactions quickly to avoid the attack of MeV bots. For this, traders should use high -speed networks and avoid block builders that prefer bots.
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Setting slipage limit: Slipage limit is a limit that ensures that the transaction will remain within a certain range despite the change in the trade. This can reduce the effect of sandwich attack.
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better Monitoring And audit: Regular security audit and transaction monitoring on the Defi platform is necessary. This can identify any suspicious activity and prevent it before the attack.
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Hiding sensitive information: The user should hide their personal information, such as price guidelines and wallet data, so that the attackers do not know about their trade.
However, strict action has been taken on such attacks in the cryptocurrency space from time to time, where some time ago Solana has done a surgical strike to stop Sandwich AssaultsSolana Substructure associated with Solana (SOL) removed a group of validator operators from the delegation program due to involvement in the sandwich attack.
Conclusion
The Sandwich Attack has given a tough message to the Defi community that more care needs to be taken in terms of safety. Such an attack not only causes financial loss, but also affects confidence. However, sandwich attacks can be avoided by adopting some simple security measures. Defi platforms and users have to be more alert to increase their safety, so that such attacks can be avoided in future.
