Further scrutiny of the event revealed that it was a sandwich attack. Sandwich attacks occur when atrocious traders look for a pending transaction within a network and manipulate the order of transactions in the block.
In this instance, the eight addresses were able to exploit the Uniswap exposure and capitalized on it. In addition, Uniswap could have been an easy target since it uses a price curve based on liquid demand and supply.PeckShield also explained without laying blame that there was afrom the Miner Extractable Value . The MEV is described as the value that miners can obtain from the order of transactions during block production. And this helped in granting access to hackers.
“Our analysis shows that the victim txs were replaced by the bot-exploiting transactions, which already included the reverse swap to take profits.” This attack represented one of the few notable ones the crypto ecosystem has experienced in 2023. Unlike last year when such occurrences were rampant, there seems to have been some calm.Meanwhile, Lookonchain was able to provide more information about the incident. According to him, the asset carted ways included 5.3 million