On March 12, a crypto dealer misplaced over $215,000 in a sandwich assault whereas swapping stablecoins.
Michael Nadeau, The DeFi Report founder, reported in a put up on X that the dealer tried to alternate $220,764 in USD Coin
$1.00
however ended up with simply $5,271 in Tether
$1.00
after a maximal extractable worth (MEV) bot exploited the transaction.
The bot took benefit of the Uniswap v3
$121.31M
USDC-USDT liquidity pool by briefly pulling out the USDC earlier than the commerce was executed, solely to revive it instantly after.
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In response to Nadeau, the attacker despatched $200,000 to an Ethereum
$1,892.21
block builder, “bob-the-builder.eth”, whereas preserving $8,000 in revenue.
Initially, Nadeau criticized Uniswap, suggesting the platform’s design allowed these assaults to occur. Nevertheless, after discussions with Uniswap CEO Hayden Adams and different group members, he acknowledged that the exploited transactions didn’t originate from Uniswap’s official entrance finish.
A blockchain skilled often called @TheDEFIac on X identified that the identical dealer, or somebody utilizing a number of wallets in the same approach, had been caught in no less than six sandwich assaults. All these transactions adopted the identical route—funds borrowed from Aave
$166.17
have been moved to Uniswap earlier than being drained by MEV bots.
Two of those incidents occurred on the identical day, with completely different wallets shedding $138,838 and $128,003 in separate swaps. Each transactions occurred inside minutes of one another and adopted the identical sample because the bigger $220,764 loss.
Not too long ago, Kaspersky reported that cybercriminals used a crypto-mining malware referred to as SilentCryptoMiner to focus on YouTube creators. How? Learn the complete story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Conflict II period.With near a decade of expertise within the FinTech trade, Aaron understands the entire largest points and struggles that crypto fans face. He’s a passionate analyst who is worried with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to individual for all the pieces and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the area as we all know it, and make it extra approachable to finish novices.Aaron has been quoted by a number of established retailers, and is a printed writer himself. Even throughout his free time, he enjoys researching the market developments, and searching for the following supernova.
