Hackless Offers Sandwich Attack Protection for BSC and Ethereum Networks

[ad_1]

sponsored

As winners of the ETH hackathon in 2021, the Hackless team is now releasing the beta version of Anti-Sandwich – a gateway to a safe and efficient exchange of crypto assets, avoiding public mempools and, therefore, “ sandwiched’. The solution has already proven its effectiveness for a game-to-win platform and is now open to a wider audience.

The risks of DeFi

Financial freedom is both DeFi’s biggest trailblazer and biggest risk. The move to decentralized exchanges gives users control over their assets, but also makes them solely responsible for ensuring the safety of their funds. Since the industry is still developing, so is its level of security, which results in a fairly limited market offering. Hackless is a DeFi security provider of advanced solutions to protect projects and individual users against hacks, exploits and attacks of various types, as well as to help migrate funds from already hacked protocols and wallets.

A sandwich attack is a relatively new but increasingly common and already well-known type of forward and reverse running attack. According to a report published by TarLogic, between May 2020 and April 2022, there were a total of 457,691 sandwich attacks detected with an average return on investment above 4%. The most profitable attack of all time was spotted in May 2021 after taking 56 ETH worth $200,000 at that time. It was achieved in just two transactions executed within the second.

Sandwich attacks explained

Sandwich attacks include both upstream and downstream tactics applied on buy transactions sent to DEX. To do this, attackers monitor a mempool – for appropriate trades and once an opportunity arises, they first buy the same token and sell it after the trade is executed.

When breaking down a sandwich attack, three clear steps are visible:

An attacker detects a high value trade in the mempool and places a buy trade to pump the price of the asset. A user buys coins at a higher price. The attacker sells coins by pocketing the price difference.

Choose the best Anti-Sandwich protection for you

Hackless allows every DeFi user to trade assets, bypassing public mempools. This means that you send your transactions directly to miners, making them invisible to exploits.

The service is available on the Hackless site through an intuitive and easy to use widget. All you need to do is connect your Metamask, select the network and token, and sign the transaction, which will automatically be submitted to private miners.

Anti-Sandwich for Business

According to the REKT database, DeFi protocols have lost $6 billion in total, due to scams, hacks, and exploits of various types, sandwich attacks included. Hackless is now introducing a solution for DeFi companies that want to provide additional protection, as well as a better product experience, to their users.

Anti-Sandwich by Hackless is the best solution for blockchain projects that require a fast and secure swap widget. The solution is now available on the Ethereum and Binance Smart Chain networks with further expansion to other chains.

With the Anti-Sandwich widget on the client’s website, users can easily redeem project tokens without ever leaving the website. This makes the user experience smoother and safer, while avoiding potential sandwich attacks and confusion with other tokens. The widget is easily pluggable to any website through the NPM library, as well as customizable to brand design and feel.

$10,000 HKLS airdrop pool for early adopters

While the best perk is actually to avoid being “sandwiched” and losing your money, Hackless also incentivizes the most security conscious teams and individuals by dropping 10,000 HKLS tokens, offering bonuses sponsorship and more.

Early adopters are certainly the luckiest – not only do they get to try the service for free, but they also participate in the dedicated airdrop activity through Gleam.

To learn more about Hackless and how it can boost DeFi security, visit the project site and be sure to join the community on Discord and Telegram.

This is a sponsored post. Learn how to reach our audience here. Read the disclaimer below.

Media

Bitcoin.com is the premier source for all things crypto. Contact the media team at [email protected] to discuss press releases, sponsored posts, podcasts, and other options.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is provided for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More popular newsIn case you missed it

[ad_2]