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To combat disruptive trade practices, crypto investors have collectively invested over $9.5 million in recent weeks to protect their transactions in the Solana ecosystem against sandwich attacks. This process, common in blockchain ecosystems, involves bots exploiting transaction delays by placing their own orders before and after the target transaction to manipulate market prices.
A New Fraud Method Draws Attention
As a leading security provider in the Solana network, Jito is at the forefront of offering protective measures. The company facilitates a service where users pay a nominal fee for their transactions to be specially packaged and processed, effectively protecting them from predatory bots pursuing profits through sandwich attacks. The urgency to intervene in these attacks stems from their increasing impact on individual investors and the broader Solana community.
Sandwich attacks are drawing attention as a distress and significant threat to the financial integrity of blockchain transactions. Attackers manipulate transaction orders to inflate token prices momentarily, profiting from sales after the victim’s trade.
What’s Happening in the Solana Ecosystem?
Currently identified as one of the most pressing issues troubling the Solana community, this practice known as maximum extractable value (MEV) continues to raise concerns about the role of Solana validators. Some community members accuse them of using delegated assets to participate in sandwich attacks, exacerbating the problem. This is fueling calls from Solana developers for greater transparency and accountability. The CEO of Helius commented on the issue:
“Solana validators who literally rob individual investors through sandwich attacks using delegation shares should be warned.”
One of the most notable crypto assets of recent times, Solana, experienced a price increase of 599.92% last year, largely influenced by the memecoin frenzy. However, Solana’s native token, SOL, despite a 20.53% rise last week, recently saw a 3.52% drop, highlighting once again the volatile nature of the crypto market.
