2021 ETH Lisbon Hackathon Winner,
We have tasked ourselves with designing a comprehensive security platform aimed at protecting the DeFi world from targeted exploits and safely migrating funds from individual wallets and protocols under attack. .
So far, our Conductor solution has helped us safely migrate approximately $691,000 from hacked DeFi protocols and individual wallets.
Hackless is pleased to introduce tools to help combat sandwich attacks against the Ethereum and Binance smart chains. This solution allows for safer swaps by avoiding the public mempool by sending transactions directly to miners.
DeFi security risks
Decentralized exchanges are widely considered to be more secure than centralized options as they do not store user funds, but they carry risks that all users should be aware of.
Although you have full ownership of the funds, decentralized platforms are still prone to code risk.
This means that if your smart code has bugs or vulnerabilities it can be exploited and your funds lost. Unfortunately, recent statistics further prove this. Seven of the ten crypto thefts that occurred between January 2021 and March 2022, he said, involved DeFi protocols.
In total, DeFi protocols lost $6 billion to various types of hacks and exploits, including sandwich attacks, as documented in the REKT database.
Description of the sandwich attack
According to TarLogic’s report, a total of 457,691 sandwich attacks were detected between May 2020 and April 2022, with an average ROI of over 4%. why such a big number? To understand this, let’s dig a little deeper into the sandwich attack mechanics.
Before diving into the investigation, it’s important to understand what a mempool is in terms of DEX. In blockchain terminology, a mempool is a waiting area for transactions that have not been added to blocks and have not yet been confirmed.
These transactions are placed in mempool and picked up by miners packaged into blocks. It’s also mempool that allows you to “see” transactions that are about to be executed.
Taking a closer look, we can break this strategy down into a few common steps:
- Attackers monitor mempools to detect high-value transactions.
- The attacker buys a certain amount of the same token to drive up the price before the user’s transaction is executed.
- Users buy tokens at higher prices.
With just two transactions, typically occurring within seconds, the abuser can make a substantial profit.
Anti-sandwich protection for individual users
If you want to protect yourself from sandwich attacks,
Since your transactions never reach the mempool, they are never seen by hackers and therefore are not at risk of being targeted.
Anti-Sandwich is completely free during beta Works with Ethereum and BSC networks. It offers a very easy and simple interface that even beginners can have a smooth experience.
To protect your transactions from getting pinched, you need to:
- Connect your Metamask wallet.
- Select the network and token you want to swap.
Once signed, it is automatically sent to private miners, bypassing the public mempool.
AntiSandwich Widget by Hackless
Anti-sandwich for DeFi teams
Our anti-sandwich solution has already proven effective in play-to-earn projects that integrate Hackless customized widgets for users.
Here’s why Anti-Sandwich is valuable for DeFi projects:
- User experience is improved as users do not leave the platform to exchange project tokens. Additionally, it avoids confusion with similar tokens across the myriad of currencies on the DEX.
- Enhanced security while avoiding potential sandwich attacks during swap.
- Ease of integration through
NPM library Brand customization.
10,000 $HKLS airdrop pool for beta users
If you’re in the beta phase, you can try the tool completely free. We value early adopters. That’s why we’re throwing out additional airdrop activities to reward the most active people.
We’re excited to open the beta so you can try it out, share your thoughts, spread the word and get rewarded.join us
To learn more about Hackless and how it can enhance your DeFi security, visit
Also, join the Hackless community.
photo courtesy Allen Rudd upon unsplash
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