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Beta users can try the new tool for free and earn rewards in $HKLS.
Countering sandwich attacks
DeFi security provider, Hackless, introduces a new tool to help combat sandwich attacks on the BNB chain and Ethereum. The solution allows making safer substitutes by avoiding public mempools and submitting transactions directly to miners.
Leveling up DeFi security
With the rapid development of decentralized exchanges and the increasing 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 contribute.
Hackless has designed security solutions, both for DeFi projects and developers, as well as for individual users, to protect them from targeted exploits, which include sandwich attacks.
What is a sandwich attack?
Researchers started performing sandwich attacks not too long ago, but it has become a very common and profitable back-and-forth strategy. As reported in 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 take a closer look at this type of attack, we will see that if played smartly, the execution of just two transactions can bring the exploiter quite a significant profit. To do this, attackers typically monitor mempools for high-value transactions that can potentially be sandwiched. Once detected, the attacker creates a buy transaction for the same token before the user’s transaction to pump the asset price. This results in the user purchasing the asset at a higher price. Immediately after the user’s transaction, the attacker sells their coins, keeping the price difference.
Individual anti-sandwich protection for the BNB chain
If you want to exchange funds on the BNB chain without the risk of being sandwiched and losing money, consider logging out The anti-sandwich from Hackless. Not only does it provide a free tool that makes transactions invisible to hackers since they don’t appear in public mempools, but it also offers a very simple interface and intuitive experience even for beginners. All you need to do is connect your Metamask wallet, select the BNB chain network and token you want to exchange and sign the transaction. Once signed, it will automatically be delivered to private miners.
Anti-sandwich for businesses running on the BNB chain
The anti-sandwich from Hackless is best for blockchain projects that care about their users’ product experience. The solution has already proven effective for a play-to-earn platform that has integrated a Hackless custom widget for its users.
The Anti-Sandwich widget offers several advantages for DeFi projects:
- Better user experience, without the user ever leaving the platform to exchange the project token.
- Benefit from security while preventing potential sandwich attacks during swapping.
- Smooth integration via NPM libraryas well as brand customization.
$10,000 HKLS airdrop pool for beta users
Without a doubt, beta users will get the most out of being early adopters. Not only will they have the opportunity try the service for freebut also participate in a dedicated airdrop activity via Shine.
About Hackless
The winner of ETHLisbon Hackathon 2021, Hackless, has designed a comprehensive security platform that aims to protect the DeFi world from targeted exploits, as well as to securely transfer funds from individual wallets and protocols that have been attacked. So far, it has helped save nearly $500,000 for vulnerable businesses and individual clients.
To learn more about Hackless and how it can improve DeFi security, visit project siteand be sure to join the community at Discord and Telegram.
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