MEV bot earns $1M but loses everything to a hacker an hour later
An MEV bot gained massive profits worth $1 million by seizing an arbitrage opportunity. However, it was tricked into authorizing a malicious transaction that drained the funds. An Ethereum arbitrage trading bot managed to hit the jackpot and lose it all on the same day in an ironic turn of events in decentralized finance (DeFi). In a Twitter thread, Robert Miller, who works at the research firm Flashbots, shared how a Maximal Extractable Value (MEV) bot with the prefix 0xbadc0de was able to earn 800 Ether (ETH), around $1 million, through arbitrage trades. According to Miller, the bot took....
Related News
According to Sky Mavis, the creators of the blockchain NFT game Axie Infinity, the Ronin network has been attacked, and a hacker has managed to siphon 173,600 in ethereum and 25.5 million usd coin (USDC). The attacker has obtained roughly $620 million worth of crypto assets, and the Ronin bridge and Katana Dex have been paused.
The Largest NFT Blockchain Game Axie Infinity Suffers From a $620 Million Hack
The largest non-fungible token (NFT) blockchain game, Axie Infinity, has suffered from an attack on Tuesday after the Ronin network validators were compromised. Sky Mavis, the....
DeFi bridging Protocol, pNetwork, is the most recent protocol to be targeted by a cyber attack. An unknown hacker has stolen about $12.7 million worth of tokenized Bitcoin from the Binance Smart Chain-based cross-chain platform. According to a Twitter thread published by pNetwork on September 20, the hacker exploited a bug in the network’s codebase. […]
Japanese cryptocurrency exchange Liquid is suspending deposits and withdrawals after a security breach resulting in the loss of around an estimated $80 million in digital assets. The platform published the suspected hacker’s addresses and said it’s moving funds to cold storage. Hacker Hits Japanese Crypto Exchange Liquid Asian cryptocurrency exchange Liquid Global has confirmed it has been targeted in a hacking attack. In a notice tweeted early on Thursday, the coin trading platform revealed that some of its warm wallets were compromised, adding that it’s currently....
"The poly did offered a bounty, but I have never responded to them. Instead, I will send all of their money back," said the hacker. The hacker behind a $610 million attack on the cross-chain decentralized finance (DeFi) protocol Poly Network has returned almost all of the stolen funds amid the project saying their actions constituted “white hat behavior.”According to a Thursday update on the attack from Poly Network, all of the $610 million in funds taken in an exploit that used "a vulnerability between contract calls” have now been transferred to a multisig wallet controlled by the....
“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Transit Swap, a multi-chain decentralized exchange (DEX) aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to the users while efforts to track down and recover the stolen funds are underway.“We are deeply sorry,” stated Transit Swap while revealing that a bug in the code allowed a hacker to make away with an estimated $21 million. Blockchain....