{"id":16734,"date":"2024-09-06T10:40:59","date_gmt":"2024-09-06T07:40:59","guid":{"rendered":"https:\/\/forklog.com\/en\/mev-bot-borrows-12-million-nets-just-20\/"},"modified":"2024-09-06T10:40:59","modified_gmt":"2024-09-06T07:40:59","slug":"mev-bot-borrows-12-million-nets-just-20","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mev-bot-borrows-12-million-nets-just-20\/","title":{"rendered":"MEV Bot Borrows $12 Million, Nets Just $20"},"content":{"rendered":"<p>An &#8220;unfortunate&#8221; MEV bot took out a flash loan of $11.7 million but managed to earn only $20 from the transaction. Analysts at Arkham Intelligence highlighted this incident.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">An MEV Bot just took out a $12 Million flashloan to make less than $20 in profit.<\/p>\n<p>It sandwiched a user trying to swap $5K of SHFL to WETH using around 2% slippage.<\/p>\n<p>Unlucky. <a href=\"https:\/\/t.co\/I1llVBN4fH\">pic.twitter.com\/I1llVBN4fH<\/a><\/p>\n<p>\u2014 Arkham (@ArkhamIntel) <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1831706536399220907?ref_src=twsrc%5Etfw\">September 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The automated software executed a &#8220;sandwich attack&#8221; on a user attempting to swap $5000 worth of Shuffle (SHFL) tokens for Wrapped ETH (WETH). The slippage on the transaction was approximately 2%.<\/p>\n<p>In total, the bot conducted 14 transactions, utilizing DeFi protocols Balancer, Aave, and Uniswap. After completing the operations and paying for gas, the profit amounted to just over $20.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Unlucky,&#8221; noted Arkham.<\/p>\n<\/blockquote>\n<p>Commenters wryly observed that in the current market, even an MEV bot struggles to earn more than $20.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">$20 pure profit is more than most are making in this market<\/p>\n<p>\u2014 John (@j0hn1x) <a href=\"https:\/\/twitter.com\/j0hn1x\/status\/1831710531054359004?ref_src=twsrc%5Etfw\">September 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A &#8220;sandwich attack&#8221; is a market manipulation technique. The perpetrator surrounds a user&#8217;s transaction with two of their own, affecting asset prices to extract profit. These operations must be conducted within a single block, often using a private mempool created with validators.<\/p>\n<p>In July, the Solana Foundation <a href=\"https:\/\/forklog.com\/en\/news\/solana-validators-expelled-for-involvement-in-sandwich-attacks\">expelled<\/a> a group of node operators from its delegation program for participating in &#8220;sandwich attacks.&#8221;<\/p>\n<p>Back in June, on-chain analyst Ben discovered that a well-known MEV bot on the Solana network <a href=\"https:\/\/forklog.com\/en\/news\/solana-mev-bot-amasses-30-million-in-two-months\">earned around $30 million<\/a> from similar activities over two months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An &#8220;unfortunate&#8221; MEV bot took out a flash loan of $11.7 million but managed to earn only $20 from the transaction. Analysts at Arkham Intelligence highlighted this incident. An MEV Bot just took out a $12 Million flashloan to make less than $20 in profit. It sandwiched a user trying to swap $5K of SHFL [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16733,"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":[1097,1231],"class_list":["post-16734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-lending","tag-mev"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16734","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=16734"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16733"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}