Another Day, Another Hack: MEV Bot Breaks In Bold Blunder
September 29th, 2022

Ok I know, lame headline attempt.  MEV (Maximal Extractable Value) bots are used mainly for arbitrage plays, and are known to do hundreds of thousands of transactions per month to try and reach maximum profits.  Bert Miller, the product lead of a MEV bot research team called Flashbots detailed his findings on Twitter, and it's a story of victory followed by deep loss.  A MEV bot operator won an arb(itrage) jackpot of 800 ETH in a single transaction on Sept 28th, only to lose it all plus another 300 ETH to a hacker an hour later.  Miller noted that the owner had failed to protect the function they used to execute flashloans on the dYdX exchange, which was sniffed out.

So the person that was selling their $1.8m cUSDC got screwed by the MEV bot and the MEV bot got screwed by a hacker.  Do we finally have a story where a hacker brings justice instead of just evading it?!

Written by: nikethereum.eth / Medium / Mirror

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