A trader under the pseudonym Jaredfromsubway.eth has launched a new MEV bot that implements more sophisticated arbitrage and sandwich attacks that have earned millions of dollars in ETH. Since August 14, Jared has deprecated the old contract address, and the new address uses the same public-private key pair as the original robot. Data from EigenPhi shows that the new contract address processed more than 85,000 transactions, generating approximately 765 ETH (close to $2 million).
Jared's new bot executes multi-layered sandwich attacks, including five- and seven-layer attacks that exploit trading opportunities for multiple victims simultaneously. Sandwich attacks help attackers get more favorable prices by operating before and after the average user's trades, while making the average user's trades worse. This strategy takes advantage of the slippage of crypto trading, driving up prices and profiting from them.
Jaredfromsubway.eth Launches New MEV Robot to Implement Sophisticated Sandwich Attacks
2024-08-20 22:57:05
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