1inch launches new tool to protect merchants from 'sandwich attacks'

The company said the new tool works by allowing users to submit transactions directly to validators.
New
On November 25, exchange aggregator 1inch launched a new tool called "Rabbithole", which the company claims will protect traders from malicious "sandwich attacks". The team announced the launch of the tool in a press release made available to Cointelegraph.

Rabbithole works by allowing users to submit transactions directly to Ethereum nodes, bypassing the mempool. To use it, users must modify the remote procedure call (RPC) endpoint in their crypto wallet. After that, every trade initiated via 1inch will be analyzed by the private tx routing algorithm developed by the 1inch team and then sent directly to the validators if there is a possibility of a sandwich attack.

According to the press release, a "sandwich attack" is a type of cryptographic policy execution that consists of three steps:
The attacker scans the blockchain mempool until he finds a high-value transaction A transaction is submitted to expedite the victim's purchase, and higher gas is paid to ensure the attacker's transaction is processed before the victim's. This early transaction drives up the price of the coin that is about to be purchased, forcing the victim to pay more After the victim's transaction is processed, the attacker submits a second transaction which sells their coins, pocketing the price difference
This type of attack is so named because it "sandwiches" the victim's transaction between two transactions submitted by the attacker.

According to a report by TarLogic, titled "Tracking Ethereum blockchain crypto attackers: Measuring sandwich attack", more than 60,000 Ether (ETH) were lost in sandwich attacks from May 2020 to April 2022, a value of over of $72,000,000 at the time. publication.

The crypto R&D team, Flashbots, previously released a python library that allowed users to submit transactions directly to nodes. However, this library can only be used in a development environment. OK...

Crypto Nov 25, 2022 0 41 Add to Reading List

1inch launches new tool to protect merchants from 'sandwich attacks'

The company said the new tool works by allowing users to submit transactions directly to validators.

1inch releases new tool to protect traders against 'sandwich attacks'

New

On November 25, exchange aggregator 1inch launched a new tool called "Rabbithole", which the company claims will protect traders from malicious "sandwich attacks". The team announced the launch of the tool in a press release made available to Cointelegraph.

Rabbithole works by allowing users to submit transactions directly to Ethereum nodes, bypassing the mempool. To use it, users must modify the remote procedure call (RPC) endpoint in their crypto wallet. After that, every trade initiated via 1inch will be analyzed by the private tx routing algorithm developed by the 1inch team and then sent directly to the validators if there is a possibility of a sandwich attack.

According to the press release, a "sandwich attack" is a type of cryptographic policy execution that consists of three steps:

The attacker scans the blockchain mempool until he finds a high-value transaction A transaction is submitted to expedite the victim's purchase, and higher gas is paid to ensure the attacker's transaction is processed before the victim's. This early transaction drives up the price of the coin that is about to be purchased, forcing the victim to pay more After the victim's transaction is processed, the attacker submits a second transaction which sells their coins, pocketing the price difference

This type of attack is so named because it "sandwiches" the victim's transaction between two transactions submitted by the attacker.

According to a report by TarLogic, titled "Tracking Ethereum blockchain crypto attackers: Measuring sandwich attack", more than 60,000 Ether (ETH) were lost in sandwich attacks from May 2020 to April 2022, a value of over of $72,000,000 at the time. publication.

The crypto R&D team, Flashbots, previously released a python library that allowed users to submit transactions directly to nodes. However, this library can only be used in a development environment. OK...