By George Ward
1inch, a DEX platform, has introduced another tool called Rabbithole. This tool promises to help traders combat Sandwich attacks. According to 1inch, the latest tool allows users to send transactions straight to validators.
A sandwich invasion is a form of frontal attack. It is imposed over transactions transmitted to a DEX to purchase tokens.
The Rabbithole tool lets users send their transactions straight to ETH nodes without going through the mempool. However, users must use this tool to change their cryptocurrency wallet’s RPC (remote procedure call).
After doing so, each swap conducted through 1inch will go through a transaction routing algorithm developed by the 1inch team. Afterward, it is transmitted directly to validators to avoid a sandwich attack.
Moreover, the report added that a sandwich attack has three phases. First, the attacker searches through the network’s mempool until they locate a transaction with an immense value.
Next, they will submit a transaction to front-run the individual’s purchase. Also, the attackers will pay higher gas fees to ensure their transaction gets processed before the victim.
This move pushes the coin’s price, causing the victim’s gas fees to increase. After the victim’s transaction is processed, the attacker will send another transaction to sell the coins. The attacker will keep the price difference.
Rabbithole More User-friendly Than Flashbots
The attack is called “sandwich” since the attacker’s two transactions “sandwich” the victim’s transaction. TarLogic, a cybersecurity platform, posted a report where it tracked the amount of ETH lost to sandwich attacks.
The report stated that between May 2020 – April 2022, more than 60,000 ETH was lost due to sandwich attacks. The 60,000 ETH lost is worth about $72 million.
Meanwhile, the cryptocurrency’s R&D team unveiled a python library recently called Flashbots. The python library allows users to submit all transactions straight to nodes.
Unfortunately, the library is difficult to use. This is because only tech experts can use it, making it difficult for non-tech individuals.
As stated by 1inch, Rabbithole is quite similar to Flashbots. The only difference is that Rabbithole has a user-friendly front end that is easy to use and understand.
Furthermore, Rabbithole is the newest upgrade to the decentralized exchange aggregator, 1inch.