Scary stuff goes around Ethereum network via Twitter debate among flashbot creators and Eth developers. “Time Bandit Attack Reorg” is a new term coined by MEV Geth enthusiast Edgar Arout on his thread in which the backlash has risen between Eth developers, miners and flashbot creators. Simple way to understand the Time Bandit Attack came from blockchain enthusiast channels such as Son Of A Tech and Bits Be Trippin’ via YouTube. It all starts from MEV term (Miner Extractable Value) meaning that mining pools have a 100% power to choose highest profit through arbitrage among Ethereum transaction fees with the help of artificial intelligent flashbots. The main threat to Ethereum blockchain existence is a reverse of transactions happened in the past mined blocks, that’s another term for “Reorg” attack. Well, Time Bandit Reorg might be achieved through larger pools like Ethermine or Sparkpool, not necessarily with 51% overall network hash power. Interestingly, MEV recorded blocks and uncles since 2020 are the actual vulnerable points in Ethereum blockchain where Edgar Arout claimed that Time Bandit Reorg code can be executed successfully due to MEV code manipulation by the pools. Furthermore, this reverse chaos could be implemented among big exchanges’ past hacks like Binance had been hacked for $40 million and some crypto users want to get back their funds quickly by reorganizing Ethereum blockchain through Time Bandit method.
Additional threat idea also initiated by Bunny Girl via github request to implement Reorg Contract services. All in all, Time Bandit Attack Reorg must be stopped with any means necessary in order to save Ethereum blockchain credibility. Whole consensus may be in jeopardy if this method breaks into real execution in upcoming weeks.