Why Encryption Is the Only Real Protection Against MEV

Shutter argues that encryption is the only effective protection against malicious MEV, because transaction visibility lets operators extract value and trust-based protections fail once enough money is at stake. The article cites over $1.38 billion extracted on Ethereum through front-running and sandwich attacks, and says Changpeng Zhao was sandwich-attacked on a decentralized exchange. It describes Shutter's encrypted mempool, in which Keypers use threshold encryption to decrypt transactions only after block commitment, and says this model is operational on Gnosis Chain and piloted on OP Stack.