What are sniper bots, and how to stop token sniping exploits?

cointelegraph.com:

Sniper bots are automated software programmed for specific actions at predetermined times to find applications in online auctions, sales and crypto trading, ensuring precise market transactions.

In the context of online activities, an automated software or script programmed to carry out particular acts at predetermined times is called a sniper bot. A sniper bot is frequently used in the world of online sales and auctions to make purchases or submit bids in the closing seconds of a sale or auction with the goal of outbidding rivals. These bots are designed to operate in a split second before an auction ends to secure an item before others can react.

In the context of cryptocurrency trading, a sniper bot is an automated instrument that is developed to make transactions quickly in response to predetermined market conditions. The key features of sniper bots in the cryptocurrency sphere include precision in trade execution, which is determined by predetermined parameters to ensure favorable market entrance and exit positions.

They operate automatic traders and use pre-programmed algorithms to function, which could incorporate technical indicators, arbitrage methods, scalping tactics and precise entry and exit points. Their main objective is to profit from market swings by making quick decisions to purchase low and sell high, or vice versa.

However, the effectiveness of these bots depends on programming quality and market volatility. While they aim to reduce emotional bias in trading decisions, they’re not risk-free, as platforms may impose usage restrictions.

Sniper bots are programmed with criteria; the bots monitor market data and execute trades swiftly, using algorithms to profit from favorable price movements like scalping