Solana sandwich bots estimated to have made $29.7M over 11 months

Sandwich attack bots on Solana are estimated to have made about $29.7 million over roughly 11 months, excluding costs such as transaction fees, CryptoSlate reported. According to blockchain data firm Bitquery, about 6.85 million sandwich attacks occurred from Oct. 30 last year to Oct. 7 this year, targeting around 2.15 million addresses. Bitquery said 96% of the attacks took place on memecoin platforms Pump.fun and PumpSwap. A sandwich attack involves a bot buying a token just before another user’s trade to push the price higher, then selling after that trade is executed to capture a profit. Bitquery’s analysis found trades routed through Jupiter and executed on Pump.fun or PumpSwap with slippage tolerance set at 20% to 50% had a victimization rate 14 times higher than trades with slippage tolerance below 3%. A wider slippage setting can allow a trade to go through at a worse-than-expected price. Still, Bitquery said a wider tolerance does not necessarily mean a higher attack rate, and the comparison was limited to some trades routed through Jupiter.