The Gold Digger in the Dark Forest: Industrial-Scale MEV Analysis in Ethereum
This program is tentative and subject to change.
Maximal Extractable Value (MEV) activities pose critical operational challenges for blockchain enterprises, requiring automated detection systems to maintain platform integrity and regulatory compliance. Current industrial practices rely on heuristic rule-based methods with substantial accuracy limitations and inability to adapt to evolving MEV strategies. This paper presents an automated software engineering solution for large-scale MEV detection, introducing a novel graph-based profitability identification algorithm that replaces inflexible heuristic rules with adaptive mechanisms. Our automated system achieves 0.6% false positive rates for arbitrage detection and 2.4% false negative rates, significant improvements over existing methods with much higher error rates.
We validate our approach on the most comprehensive dataset to date, i.e., 21 million Ethereum blocks containing 2.5 billion transactions, covering critical infrastructure transitions including The Merge and Proposer-Builder Separation. Our automated pipeline identifies 12.1 million MEV activities, including 1.2 million previously undetectable advanced variants that pose emerging risks to platform operators. Key findings provide actionable insights for blockchain enterprises: private transaction architectures protect 71.4% of low-yield MEV opportunities rather than harming participants, contradicting previous assumptions. However, we identify concerning builder-searcher collusion involving 2,000+ transactions worth 350 ETH, highlighting compliance risks. Additionally, intensifying centralization trends show a single oligopoly controlling 43.1% of MEV activities in 2024, presenting systemic risks.
Our automated detection framework provides blockchain enterprises with production-ready tools for MEV monitoring, risk assessment, and compliance management while offering critical insights for infrastructure design decisions in rapidly evolving DeFi environments.
This program is tentative and subject to change.
Wed 19 NovDisplayed time zone: Seoul change
16:00 - 17:00 | |||
16:00 10mTalk | The Gold Digger in the Dark Forest: Industrial-Scale MEV Analysis in Ethereum Industry Showcase Ningyu He Hong Kong Polytechnic University, Tianyang Chi Beijing University of Posts and Telecommunications, Xiaohui Hu Huazhong University of Science and Technology, Haoyu Wang Huazhong University of Science and Technology | ||
16:10 10mTalk | RPG: Linux Kernel Fuzzing Guided by Distribution-Specific Runtime Parameter Interfaces Industry Showcase Yuhan Chen Central South Sniversity, Yuheng Shen Tsinghua University, Guoyu Yin Central South University, Fan Ding Central South Sniversity, Runzhe Wang Alibaba Group, Tao Ma Alibaba Group, Xiaohai Shi Alibaba Group, Qiang Fu Central South University, Ying Fu Tsinghua University, Heyuan Shi Central South University | ||
16:20 10mTalk | Securing Self-Managed Third-Party Libraries Industry Showcase Xin Zhou Nanjing University, Jinwei Xu Nanjing University, He Zhang Nanjing University, Yanjing Yang Nanjing University, Lanxin Yang Nanjing University, Bohan Liu Nanjing University, Hongshan Tang JD.com, Inc. | ||
16:30 10mTalk | STaint: Detecting Second-Order Vulnerabilities in PHP Applications with LLM-Assisted Bi-Directional Static Taint Analysis NIER Track Yuchen Ji ShanghaiTech University, Hongchen Cao ShanghaiTech University, Jingzhu He ShanghaiTech University | ||
16:40 10mTalk | AdaptiveGuard: Towards Adaptive Runtime Safety for LLM-Powered Software Industry Showcase Rui Yang Monash University and Transurban, Michael Fu The University of Melbourne, Kla Tantithamthavorn Monash University and Atlassian, Chetan Arora Monash University, Gunel Gulmammadova Transurban, Joey Chua Transurban | ||
16:50 10mTalk | CONFUSETAINT: Exploiting Vulnerabilities to Bypass Dynamic Taint Analysis NIER Track | ||