June 24, 2021

SpywareNews.com

Dedicated Forum to help removing adware, malware, spyware, ransomware, trojans, viruses and more!

Frontrunner Jones and the Raiders of the Dark Forest: An Empirical Study of Frontrunning on the Ethereum Blockchain. (arXiv:2102.03347v2 [cs.CR] UPDATED)

Ethereum prospered the inception of a plethora of smart contract
applications, ranging from gambling games to decentralized finance. However,
Ethereum is also considered a highly adversarial environment, where vulnerable
smart contracts will eventually be exploited. Recently, Ethereum’s pool of
pending transaction has become a far more aggressive environment. In the hope
of making some profit, attackers continuously monitor the transaction pool and
try to frontrun their victims’ transactions by either displacing or suppressing
them, or strategically inserting their transactions. This paper aims to shed
some light into what is known as a dark forest and uncover these predators’
actions. We present a methodology to efficiently measure the three types of
frontrunning: displacement, insertion, and suppression. We perform a
large-scale analysis on more than 11M blocks and identify almost 200K attacks
with an accumulated profit of 18.41M USD for the attackers, providing evidence
that frontrunning is both, lucrative and a prevalent issue.