arXiv subjects

Ruiqiang Li

Publications and source records attributed to Ruiqiang Li.

6 recordsLinked to original sources

arXiv2026

MEV in Binance Builder

We study builder-driven MEV arbitrage on BNB Smart Chain (BSC). BSC's Proposer-Builder Separation (PBS) adopts a leaner design: only whitelisted builders can participate, blocks are produced at shorter intervals, and private order flow bypasses the public mempool. These features have long raised community concerns over centralization, which we empirically confirm by tracing the arbitrage activities of the two dominant builders from Apr. 1, 2025 to Feb. 28, 2026 (full observable activity cycle). Within months, the two leading builders, \bd{48Club} and \bd{Blockrazor}, produced over 87\% of blocks and captured about 90\%+ of MEV profits. We find that profits concentrate in short, low-hop arbitrage routes over wrapped tokens and stablecoins, and that block construction rapidly converges toward monopoly. Beyond concentration alone, our analysis reveals a structural source of inequality: BSC's short block interval and whitelisted PBS collapse the contestable window for MEV competition, amplifying latency advantages and excluding slower builders and searchers. MEV extraction on BSC is not only more centralized than on Ethereum, but also structurally more vulnerable to censorship and fairness erosion.

cs.CR↗

arXiv2025

EIP-7702 Phishing Attack

EIP-7702 introduces a delegation-based authorization mechanism that allows an externally owned account (EOA) to authenticate a single authorization tuple, after which all subsequent calls are routed to arbitrary delegate code. We show that this design enables a qualitatively new class of phishing attacks: instead of deceiving users into signing individual transactions, an attacker can induce a victim to sign a single authorization tuple that grants unconditional and persistent execution control over the account. Through controlled experiments, we identify three reliable trigger pathways: user-driven, attacker-driven, and protocol-triggered. Each can lead to full account takeover and complete asset drainage. We further propose two extended attack surfaces. First, ERC-4337's EntryPoint pipeline enables remote and repeated activation of the delegated code without further victim involvement. Second, the chain-agnostic authorization mode permits replay-like compromises across independent networks. We also present the first empirical measurement of EIP-7702 usage across major EVM chains. Analyzing over 150k authorization and execution events involving 26k addresses and hundreds of delegator contracts, we assess the protocol's real-world footprint. Our findings show that EIP-7702 authorizations are highly centralized, dominated by a small number of contract families linked to criminal activity and repeatedly reused across incidents. Corresponding loss data reveals substantial theft of ETH, ERC-20 tokens, and NFTs. These results provide practical evidence that the attack surface we identify is not merely theoretical, but is already being exploited at scale. We conclude by proposing protocol-level defenses to mitigate the delegation-based phishing vector introduced by EIP-7702.

cs.CR↗

arXiv2025

Understanding NFTs from EIP Standards

We argue that the technical foundations of non-fungible tokens (NFTs) remain inadequately understood. Prior research has focused on market dynamics, user behavior, and isolated security incidents, yet systematic analysis of the standards underpinning NFT functionality is largely absent. We present the first study of NFTs through the lens of Ethereum Improvement Proposals (EIPs). We conduct a large-scale empirical analysis of 191 NFT-related EIPs and 10K+ Ethereum Magicians discussions (as of July, 2025). We integrate multi-dimensional analyses including the automated parsing of Solidity interfaces, graph-based modeling of inheritance structures, contributor profiling, and mining of community discussion data. We distinguish foundational from emerging standards, expose poor cross-version interoperability, and show that growing functional complexity heightens security risks.

cs.CR↗

arXiv2025

Are NFTs Ready to Keep Australian Artists Engaged?

Non-Fungible Tokens (NFTs) offer a promising mechanism to protect Australian and Indigenous artists' copyright. They represent and transfer the value of artwork in digital form. Before adopting NFTs to protect Australian artwork, we in this paper investigate them empericially. We focus on examining the details of NFT structure. We start from the underlying structure of NFTs to show how they represent copyright for both artists and production owners, as well as how they aim to safeguard or secure the value of digital artworks. We then involve data collection from various types of sources with different storage methods, including on-chain, centralized, and decentralized systems. Based on both metadata and artwork content, we present our analysis and discussion on the following key issues: copyright, security and artist identification. The final results of the evaluation, unfortnately, show that the NFT is NOT ready to protect Australian and Indigenous artists' copyright.

cs.CR↗

arXiv2024

Empowering Visual Artists with Tokenized Digital Assets with NFTs

The Non-Fungible Tokens (NFTs) has the transformative impact on the visual arts industry by examining the nexus between empowering art practices and leveraging blockchain technology. First, we establish the context for this study by introducing some basic but critical technological aspects and affordances of the blockchain domain. Second, we revisit the creative practices involved in producing traditional artwork, covering various types, production processes, trading, and monetization methods. Third, we introduce and define the key fundamentals of the blockchain ecosystem, including its structure, consensus algorithms, smart contracts, and digital wallets. Fourth, we narrow the focus to NFTs, detailing their history, mechanics, lifecycle, and standards, as well as their application in the art world. In particular, we outline the key processes for minting and trading NFTs in various marketplaces and discuss the relevant market dynamics and pricing. We also consider major security concerns, such as wash trading, to underscore some of the central cybersecurity issues facing this domain. Finally, we conclude by considering future research directions, emphasizing improvements in user experience, security, and privacy. Through this innovative research overview, which includes input from creative industry and cybersecurity sdomain expertise, we offer some new insights into how NFTs can empower visual artists and reshape the wider copyright industries.

cs.CR↗

arXiv2013

SOAP3-dp: Fast, Accurate and Sensitive GPU-based Short Read Aligner

To tackle the exponentially increasing throughput of Next-Generation Sequencing (NGS), most of the existing short-read aligners can be configured to favor speed in trade of accuracy and sensitivity. SOAP3-dp, through leveraging the computational power of both CPU and GPU with optimized algorithms, delivers high speed and sensitivity simultaneously. Compared with widely adopted aligners including BWA, Bowtie2, SeqAlto, GEM and GPU-based aligners including BarraCUDA and CUSHAW, SOAP3-dp is two to tens of times faster, while maintaining the highest sensitivity and lowest false discovery rate (FDR) on Illumina reads with different lengths. Transcending its predecessor SOAP3, which does not allow gapped alignment, SOAP3-dp by default tolerates alignment similarity as low as 60 percent. Real data evaluation using human genome demonstrates SOAP3-dp's power to enable more authentic variants and longer Indels to be discovered. Fosmid sequencing shows a 9.1 percent FDR on newly discovered deletions. SOAP3-dp natively supports BAM file format and provides a scoring scheme same as BWA, which enables it to be integrated into existing analysis pipelines. SOAP3-dp has been deployed on Amazon-EC2, NIH-Biowulf and Tianhe-1A.

q-bio.GN↗