How To Reproduce A Simple MEV Attack

Exploits in the blockchain space are becoming more complex.

Before, smart contract developers and auditors mainly had to think about how to secure smart contracts against exploits that happen in a single transaction. But now, it’s much more common to see attacks that occur over multiple transactions.

Blackhats are also increasingly taking bold risks in the amount of personal funds they’re willing to invest in an attack in search of astronomical gains.

Just last week alone, a blackhat risked 50 ETH (~$96,000) to execute an attack against Rodeo Finance, resulting in a profit of about 472 ETH, valued at roughly ~$890,000. Cases like these solidify the principle that the “cost of attack” is not an effective security deterrent, and that any protocol relying on high attack costs to keep themselves safe should rethink their strategy.

In this article, we will be explaining one of the common ways that an blackhat can attack a vulnerable protocol using MEV. We will also be explaining how we as bug hunters can properly demonstrate an MEV attack vector with a PoC (proof of concept).

Read the full article here:

Link: https://medium.com/immunefi/how-to-reproduce-a-simple-mev-attack-b38151616cb4