{"id":14128,"date":"2024-06-06T13:19:57","date_gmt":"2024-06-06T10:19:57","guid":{"rendered":"https:\/\/forklog.com\/en\/mev-bot-emerges-as-ethereums-top-gas-consumer\/"},"modified":"2024-06-06T13:19:57","modified_gmt":"2024-06-06T10:19:57","slug":"mev-bot-emerges-as-ethereums-top-gas-consumer","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mev-bot-emerges-as-ethereums-top-gas-consumer\/","title":{"rendered":"MEV Bot Emerges as Ethereum&#8217;s Top Gas Consumer"},"content":{"rendered":"<p>In the past 24 hours, the operator of the MEV bot jaredfromsubway.eth has expended over 215 ETH (~$830,200) on Ethereum gas fees.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"136\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/14-Gwei-Ethereum-Gas-Tracker-Etherscan-Google-Chrome-1024x136.jpg\" alt=\"14-Gwei-Ethereum-Gas-Tracker-Etherscan-Google-Chrome\" class=\"wp-image-234254\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/14-Gwei-Ethereum-Gas-Tracker-Etherscan-Google-Chrome-1024x136.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/14-Gwei-Ethereum-Gas-Tracker-Etherscan-Google-Chrome-300x40.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/14-Gwei-Ethereum-Gas-Tracker-Etherscan-Google-Chrome-768x102.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/14-Gwei-Ethereum-Gas-Tracker-Etherscan-Google-Chrome.jpg 1321w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/etherscan.io\/gastracker#gassender\">Etherscan<\/a>.<\/figcaption><\/figure>\n<p>This amount represents nearly 1.6% of the total, making it the largest fee payer on the network.<\/p>\n<p>Since February 2023, the bot has spent a total of 77,115 ETH or $176.7 million on gas, based on the cryptocurrency&#8217;s price at the time of transactions.<\/p>\n<p>The software operator claims in the account description on X <a href=\"https:\/\/x.com\/Jared_BotMev\">that it generates<\/a> &#8220;hundreds of ETH daily&#8221; through sandwich attacks.\u00a0<\/p>\n<p>The bot primarily targets meme coin traders. For instance, one user noted that the script recently &#8220;brutally targeted&#8221; traders of a token issued <a href=\"https:\/\/forklog.com\/en\/news\/creator-of-caitlyn-jenner-meme-tokens-earns-405000\">in the name of TV star Caitlyn Jenner<\/a>.\u00a0\u00a0\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Jaredfromsubway.eth is absolutely brutalizing everyone swapping Caitlyn Jenner&#8217;s token lmao <a href=\"https:\/\/t.co\/LbtALm81pU\">pic.twitter.com\/LbtALm81pU<\/a><\/p>\n<p>\u2014 Pop Punk (@PopPunkOnChain) <a href=\"https:\/\/twitter.com\/PopPunkOnChain\/status\/1795983076348088358?ref_src=twsrc%5Etfw\">May 30, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To profit from sandwich attacks, the bot must place two of its transactions immediately before and after the targeted trade. Achieving this requires paying block creators for priority.<\/p>\n<p>Ethereum co-founder Vitalik Buterin has identified MEV as one of the three <a href=\"https:\/\/forklog.com\/en\/news\/vitalik-buterin-addresses-centralization-threats-to-ethereum\">main threats to decentralization<\/a> in the network, alongside liquid staking and the cost of running a full node.<\/p>\n<p>The EU regulator has labeled the technology a striking <a href=\"https:\/\/forklog.com\/en\/news\/eu-regulator-identifies-mev-as-market-abuse\">example of market abuse<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the past 24 hours, the operator of the MEV bot jaredfromsubway.eth has expended over 215 ETH (~$830,200) on Ethereum gas fees. Source: Etherscan. This amount represents nearly 1.6% of the total, making it the largest fee payer on the network. Since February 2023, the bot has spent a total of 77,115 ETH or $176.7 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,46,1231],"class_list":["post-14128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-ethereum","tag-mev"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14128"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14127"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}