CertiK celebrates its 4th anniversary; Thousands of audited crypto projects
Beta users can try the new tool for free and earn $HKLS rewards.
Fighting Sandwich Attacks
DeFi Security Provider, Without hacking, introduces a new tool that helps fight sandwich attacks on BNB Chain and Ethereum. The solution allows trade more securely avoiding public mempools and submitting transactions directly to miners.
Improving DeFi Security
With the rapid development of decentralized exchanges and an ever-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 companies, in DeFi users can and should also contribute.
Hackless has designed security solutions, both for DeFi projects and developers, as well as individual users, to protect them against targeted exploits, including sandwich attacks.
What is a sandwich attack?
Explorers started performing sandwich attacks not too long ago, but it has become a very common and profitable back and forth strategy. As published in a report by TarLogic, between May 2020 and April 2022, a total of 457,691 sandwich attacks were detected with an average return on investment above 4%.
Looking more closely at this type of attack, we’ll see that if played smartly, executing just two trades can net an exploitative quite a large 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 a user’s transaction to pump the price of the asset. This results in a user buying an asset at a higher price. Right after a user’s trade is executed, an attacker sells their coins, pocketing the price difference.
Individual anti-sandwich protection for BNB channel
If you want to trade assets on BNB Chain without risking getting sandwiched and losing money, consider checking out Anti-Sandwich by 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 an intuitive experience even for beginners. All you have to do is connect your Metamask wallet, select the BNB Chain network and a token you want to trade, and sign the transaction. Once signed, it will automatically be submitted to private miners.
Anti-Sandwich for Businesses Running on BNB Chain
Anti-Sandwich by Hackless is the best solution for blockchain projects that care about their users’ product experience. The solution has already proven effective for a game-to-win platform that has integrated the Hackless custom widget for its users.
The Anti-Sandwich widget offers a few advantages for DeFi projects:
- A better user experience, without the user ever leaving the platform to redeem a project token.
- Leverage security while avoiding potential sandwich attacks while trading.
- Seamless integration via the 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 risers. Not only will they have the chance to try the service for freebut also participate in the dedicated airdrop activity via Glow.
ETHLisbon 2021 hackathon winner Hackless has designed a comprehensive security platform that aims to protect the DeFi world from targeted exploits, as well as securely migrate funds from individual wallets and protocols under attack. So far, this has saved nearly $500,000 for compromised businesses and individual customers.
To learn more about Hackless and how it can boost DeFi security, visit project websiteand be sure to join the community on Discord and Telegram.
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