Popular MEV attacks, such as sandwich transactions, have netted attackers nearly $17 billion in the past 30 days.
Decentralized exchange aggregator ParaSwap is launching an intent-based trading protocol designed to mitigate an issue costing millions of dollars on crypto transactions daily — MEV attacks.
The acronym MEV refers to the maximal extractable value, in which validators use their ability to control the order, inclusion, and execution of onchain transactions to profit from users. According to data from data platform EigenPhi, popular attacks such as sandwich transactions had profited attackers nearly $17 billion over the past 30 days.
“MEV has cost users billions, contributing to a degraded user experience and making protocols less efficient in DeFi,” told Cointelegraph Mounir Benchemled, founder of ParaSwap.
