By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > Solana Foundation Penalizes Validators For Sandwich Attacks
NewsAltcoin News

Solana Foundation Penalizes Validators For Sandwich Attacks

Solana Foundation penalizes validators for engaging in sandwich attacks.

Rubab Fatima
Last updated: June 10, 2024 3:24 pm
Rubab Fatima 1 year ago
Share
Solana Foundation Penalizes Validators For Sandwich Attacks

The Solana Foundation has moved forcefully against validators engaged in sandwich attacks, a type of blockchain market manipulation. According to Helius cofounder Mert Mumtaz, starting today an unidentified number of validators have been removed from the Foundation’s subsidy pool because of their involvement in these unethical methods.

The Solana network depends much on validators to guarantee its operational integrity and security. Though they can still theoretically operate on the network, those discovered using sandwich assaults will not be financially supported by the SOL Foundation.

Using his social media account @0xMert_ on X (previously Twitter), seasoned ecosystem developer and entrepreneur Mert Mumtaz expanded on the matter.Mumtaz said that particular network changes helped to identify these hostile validators.

Solana MEV Practices Divisive

He underlined that as Solana’s users do not access mempools, MEV (maximum extracted value) practices—which use transaction ordering for profit—are not naturally allowed on SOL. In blockchain systems, MEV has been a divisive topic as validators on Ethereum ( ETH) are known to spend hundreds of millions on gas costs to participate in these activities.

The SOL Foundation’s decision to stop supporting the offenders financially is meant to guard retail consumers from being taken advantage of. “Solana Foundation is not interested in retail users being robbed, especially with their own stake,” Mumtaz said. “People are abusing the system to rob retail and then keep the profits all for themselves.”

I'm sure a lot of super honest people who have a perfect understanding of MEV on Solana and the Foundation Delegation program will try to misrepresent reality to feel better about their bags

For those genuinely curious, I'll summarize:

– a sandwich attack is a malicious form of… pic.twitter.com/KhfGBgGuyT

— mert | helius | hSOL (@0xMert_) June 10, 2024

It is noteworthy that within its consensus mechanism, the Solana Foundation only controls roughly 16% of the validator pool. This allows leeway for continuous MEV attacks even when their support is withdrawn since the offending validators can keep functioning on their own.

Trading at $158.65 on spot crypto markets, Solana’s native cryptocurrency, SOL, witnessed a little drop of 0.8% in market reaction over the past 24 hours. This small dip captures the reaction of the market to the latest policies as well as continuous worries on network integrity and user protection.

You Might Also Like

Deutsche Bank Considers Issuing Stablecoin Amid Digital Shift

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

Berachain Transactions Tumble, Fee Revenues Cut In Half

Trump Media Launches $2.5B Crypto Investment Strategy

TAGGED: Crypto, Cryptocurrencies, Ethereum, SOL
Previous Article XRP Drops Amid Bearish Signals, Analysts Warn Of Demand Dip XRP Drops Amid Bearish Signals, Analysts Warn Of Demand Dip
Next Article Analyst Predicts Shiba Inu Price Surge by 1,100% Analyst Predicts Shiba Inu Price Surge by 1,100%
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
Bitcoin Could Hit $120K If Fed Cuts Rates Soon
Bitcoin Could Hit $120K If Fed Cuts Rates Soon
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

$BONK Surges 4% as Breakout Above $0.000021 Nears
CryptoNews

$BONK Surges 4% as Breakout Above $0.000021 Nears

By Haider Ali 4 weeks ago
XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 2 months ago
MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension
CryptoNews

MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension

By Haider Ali 2 months ago
XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments
NewsCrypto

XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments

By Nayab Fatima 4 months ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?