BIS report warns about front-running threat in crypto mining
A fresh report from the Bank for International Settlements comes to a radical conclusion, claiming that the public identities of intermediaries are necessary to fight “miner extractable value.” Since 2020, miners on the Ethereum blockchain have extracted around $600 million from other investors by miners, according to a new report by the Bank for International Settlements (BIS) focusing on common malpractice in the crypto mining industry. The June 16 bulletin, “Miners as intermediaries: extractable value and market manipulation in crypto and DeFi,” suggests three key takeaways from the....
Related News
The report outlines how the researchers identified and isolated generalized front-running bots while evaluating their efficiency.
Splitting the transaction into multiple smaller transactions, periodic auction matching, and adjusting the low slippage are various ways to avoid front-running. Decentralized exchanges (DEXs) nip in the bud several issues concerning their centralized counterparts such as concentration of liquidity in the hands of a few players, compromise of funds in case of a security breach, closed control structure and more. One issue, however, that has refused to subside is front-running. Unscrupulous players are still finding ways to defraud unsuspecting traders.If you have received less than expected....
Front-running is a type of insider trading that affects an asset's market price. Read this guide to learn how to prevent front-running in crypto. How to prevent front-running in crypto?Users can limit front-running by splitting the transaction into many smaller transactions and adjusting the low slippage. Similarly, developers can use anti-front-running measures like making transactions private and using a hidden mempool. Users can break large transactions into smaller ones instead of executing them all at once, which reduces the appeal of transactions with front-running bots due to the....
Security firm Kaspersky Lab has found that bitcoin is the target in more than one fifth of all malware attacks aimed at victims' money. According to Kaspersky's latest threat report, entitled 'IT Threat Evolution Q2 2014', bitcoin mining malware accounted for 14% of attacks in the second quarter of 2014, while bitcoin wallet stealers accounted for 8%. Keyloggers, which can be used to compromise both bitcoin and banking services, also made the list, with 4% of all attacks attributed to various forms of key logging malware. Traditional banking malware still leads the way with 74%, but....
Ethereum mining pool Sparkpool will launch its new mining network, Taichi Network, complete with a “private transaction” feature this month.