Sandwich attacks manipulated 35.5% of BNB Smart Chain blocks in November

Data shows that the number of blocks exposed to Sandwich attacks on the BNB Smart Chain reached a new record last month.

According to data provided by Dune, 35.5% of blocks in BSC were manipulated by Sandwich attacks, exploiting the transparency, immutability and decentralized nature of the blockchain. This set a new record for the BSC network.

Source: Dune

In sandwich attacks, the malicious actor squeezes the transaction on the chain by placing one order before a large transaction and another order immediately after it, in order to potentially buy an asset at a lower price and sell it before the victim makes a move.

The main purpose of sandwich attacks is to manipulate the price of a crypto asset on decentralized exchanges.

This will leave the victim facing a higher purchase price due to low liquidity on DEXs. As a result, the value of the transaction of the hunt will be less.

Data from the analytics platform shows that more than 43,000 DEX traders were affected by Sandwich attacks last week, reaching a nine-month high. Moreover, in the same time period, 645 active bots were detected in the BSC network carrying out these manipulative attacks.

Total DEX volume on BSC last week reached $9.2 million.

The rise of Sandwich attacks in the BSC ecosystem is due to the network’s native token, BNB (BNB), seeing a 17% increase in the past month. BNB is changing hands at $656, with a market value of $94.5 billion at the time of writing.

On the other hand, Sandwich attacks against Ethereum (ETH) have been decreasing since July; It dropped from 62.9% to 40.2% in the last five months. Last month, more than 12,000 DEX users on the network were exposed to Sandwich attacks.