Use Sandwich Detector to Outsmart Sandwich MEV Attacks
How much of the $20M lost to sandwich attacks is yours?
Understand the Impact and Frequency of Sandwich MEV Attacks
In today's DeFi environment, awareness and protection against prevalent risks is critical for participants. Maximal Extractable Value (MEV) sandwich attacks are a particular area of focus. The attack data on Ethereum and BNB Smart Chain (BSC) over the past 30 days brings this issue to the forefront:
Victims' Total Losses: $20 million.
Number of Affected Victims: 124,892 fell victim to these attacks.
Number of Attackers: A total of 528 attackers have been identified.
Incidence of Attacks: There were 265,806 instances of sandwich MEV attacks.
Attackers' Profit: From these operations, attackers garnered a profit of $3.5 million.
These statistics highlight the critical need for awareness and proactive measures within the DeFi ecosystem.
Empower DeFi Participants to Identify Sandwich MEV Attacks
To address this need, we are introducing "Sandwich Detector," a Telegram mini-app designed to empower users by increasing their awareness of sandwich attacks. This app allows users to easily search and determine if an address has been a victim of such attacks on Ethereum and BSC in the past 30 days. And in-depth details are readily available for those who wish to delve further into the specifics. This enables participants to make informed decisions by understanding the attacks they have been exposed to.
Practical Tips to Fortify Against Sandwich MEV Attacks
Lastly, here are some recommendations for DeFi participants to shield themselves against sandwich MEV attacks:
Utilize Protect RPC Endpoints: One effective method to counter sandwich MEV attacks is to use protect RPC endpoints, such as Flashbots Protect, LlamaNodes RPC, MEV Blocker, and bloXroute’s RPC. These specialized endpoints provide protection against MEV bots by bypassing the public mempool. Transactions are sent through these endpoints, thereby reducing the sandwiched risk.
Implement Low Slippage Settings: Setting a low slippage is advisable to reduce the vulnerability to sandwich attacks. High slippage settings can open opportunities for attackers to exploit and manipulate transactions.
Segment Large Trades: Rather than executing large trades in one go, segmenting them into smaller, less conspicuous transactions can significantly reduce the risk of attracting attackers.
By adopting these strategies, users can protect their transactions from exploitative tactics. This proactive approach is vital in an ecosystem where staying ahead of risks can mean the difference between profit and loss.
Embrace a Safer DeFi Future with Sandwich Detector
In summary, the Sandwich Detector is an essential tool for DeFi participants, offering timely insights to avoid the rising tide of Sandwich MEV attacks. Don't miss out! Now is your chance to elevate your trading game and master the risks! Visit http://bit.ly/SandwichDetector to get started.
Visit DeFi Strategies Case Studies by EigenPhi or bit.ly/head-first-defi to learn more trading tactic analyses.
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