Sandwich bots extracted about $29.7 million before costs from Solana trades over an 11-month period, according to blockchain data provider Bitquery. It found 96% of detected attacks on memecoin platform Pump.fun's launch curve and its PumpSwap exchange.
The investigation, covering successful swaps, counted 6,850,144 attacks by 2,545 bot wallets affecting 2,154,994 distinct wallets between October 30, 2025, and October 7, 2026. Those addresses do not represent a count of individual people: other bots' trades accounted for 39% of the estimated gross take.
A sandwich places a bot's purchase and sale around another trader's swap. The first purchase raises the pool price; the intervening buyer receives fewer tokens, and the bot sells into the higher price. The cost reaches the trader through execution, even when the swap completes successfully.
Among trades sent by swap router Jupiter through Pump.fun's launch curve or PumpSwap, trades allowing 20%–50% slippage were sandwiched 14 times as often as those allowing under 3%, Bitquery found.
Slippage tolerance sets how far execution can depart from a quote. Jupiter's documentation describes a minimum acceptable output after applying that tolerance. A price move beyond the limit can cause a swap to fail; a wider limit permits a worse fill. That creates a tradeoff between completing a volatile trade and limiting the price concession accepted along the way.
The observed attack rates did not rise uniformly with every wider setting. 5% tolerance were hit more often than those at 1%–3%, while the 50%-or-more band was hit less often than the 20%–50% band.
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