Luxembourg bank Spuerkeess joined forces with SnT in 2018 to investigate how they address the security of blockchain based services, as an important step towards understanding and managing the risks of real world blockchain deployments. It’s a multi-faceted project that will end in March 2022, but – as a side achievement – their research has revealed insights into a popular and unethical practice seen in the blockchain that hosts Ethereum, the world’s second largest cryptocurrency. The team has identified that at least $18.4 million has been syphoned off using so-called ‘frontrunning’ methods, when experimentally validating their developed solution.