OKX Wallet supports Flashbot to prevent MEV Bot exploitation

Dear OKX users:

Due to frequent MEV attacks on the chain, OKX wallet has supported Flashbot to prevent MEV attacks in the latest version of the App (v6.31.0)

When you use OKX Wallet - Trade - Swap on Ethereum, the OKX Wallet will effectively prevent sandwich attacks.

What is a MEV Bot exploitation?

1. The attacker scans the blockchain’s mempool until a high-value transaction is found
2. The attacker performs swap before the user and pays higher gas to ensure that the attacker's purchase transaction is uploaded to the chain before the user's transaction.
3. The attacker’s purchase transaction drives up the price of the token to be purchased, causing the victim to pay more.
4. After the victim purchases tokens, the attacker sells their tokens to earn the price difference.
5. This process is like a sandwich. The attacker uses his own transaction to sandwich the victim's transaction to earn the price difference.

How to prevent MEV Bot exploitation using OKX wallet?

You can click "More" in any OKX DEX Swap transaction on Ethereum and click "MEV Protection" to choose whether to turn on MEV protection.
OKX wallet will send transactions to trusted third-party nodes (such as Flashbots private pool) instead of regular transaction pools to ensure that the order of transactions does not change.

OKX Wallet will continue to provide you with excellent products and services!

OKX Team
October 7, 2023