An academic study published on September 23, 2026 by researchers from Category Labs, ETH Zurich, Flashbots, and the University of Lisbon analyzed sandwich attacks across six blockchains over a three-year period. Solana recorded 28 million sandwich attacks during this period, a volume described as epidemic. Jupiter Ultra posted an excess ratio of 0.7 on average, compared to 18.9 for Axiom and 11.1 for Photon, with all other Solana terminals exceeding a ratio of 10. The platform attributes these results to Ultra V3, launched on October 17, 2025, which incorporates private transaction routing, dynamic slippage estimation, and advanced privacy features. The study concludes that application-level choices have a greater impact on attack vulnerability than the blockchain itself.
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