Ethereum MEV Bot Gets Attacked for $20M as Validator Strikes Back

A major Ethereum MEV (maximal extractable value) bot has been targeted in an attack, resulting in the loss of almost $20 million. The attack took place within one Ethereum block, with a validator forcing a series of transactions to steal funds the bot had planned to gain by front-running. MEV flashbots use "sandwich attacks" to steal value from users by manipulating the underlying price of the asset. The validator responsible for the attack had funded their wallet from privacy layer Aztec Network more than two weeks ago, suggesting it was a planned attack. The stolen funds are currently held in three wallets, with eight linked addresses originally funded from Kucoin. The attack has the potential to transform the MEV ecosystem, according to former Ethereum Foundation member Hudson Jameson.

(By Oliver Knight)

MEV Rewards on Ethereum Reach All-Time High During SVB Bank Run and USDC Depeg

Ethereum

Original Link

Comments

All Comments

Recommended for you

Cointime精选 ·

The Future of Ethereum: Use Cases (Part 1)

In our 4-part series named “The Value of Ether”, we have discussed in detail the framework in which we think it is most appropriate to link value accrual to ETH token holders with the underlying mechanics that operate the Ethereum blockchain. More specifically, we have laid out a case on how increased usage of the network has an impact on supply dynamics and can therefore have a knock-on effect on the value of the Ether token.
Cointime April 23th News Express

1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
Cointime精选 ·

Introducing eoracle - the Ethereum Oracle

Ethereum and Bitcoin faced challenges that were overcome with a very cautious approach, resulting in an extraordinary case study for global human coordination. Adding real-world data through oracles as another layer on top of it is a very promising next step. However, so far, we have taken this step forward without the same caution that is fundamental to the journey toward a decentralized ecosystem. Perhaps we were too close to the problem, focusing only on the outcome - making data accessible - and not being mindful enough about the process allowing it.
Cointime April 5th News Express

1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others
Cointime精选 ·

How to purchase Ethereum GAS in advance

This topic introduces a method for purchasing gas on Ethereum. Technically it is a fully on-chain Ethereum gas futures market. The volatility of gas prices, primarily driven by network demand fluctuations, significantly obstructs user experience on Ethereum due to unpredictable costs. This solution aims to mitigate that issue.
Cointime精选 ·

How to hard-fork to save most users’ funds in a quantum emergency

Suppose that it is announced tomorrow that quantum computers are available, and bad actors already have access to them and are able to use them to steal users’ funds. Preventing such a scenario is the goal of quantum-resistant cryptography (eg. Winternitz signatures, STARKs), and once account abstraction is in place, any user can switch to using a quantum-resistant signature scheme on their own schedule. But what if we don’t have that much time, and a sudden quantum transition happens long before that?
Cointime精选 ·

Ethereum is a Game Environment

People describe Ethereum in a lot of different ways. It’s a smart contract platform, an asset ledger, an always-on financial system, a massive multiplayer online money game, and so on and so forth.
Cointime精选 ·

Ethereum’s Major Problem: Fragmentation

How did fragmentation come about & why it is a hindrance to Ethereum today
Cointime精选 ·

How to Raise the Gas Limit, Part 1: State Growth

State growth and its relationship to Ethereum’s gas limit are widely misunderstood. It is commonly believed that state growth is Ethereum’s primary scaling bottleneck. However, discussions of state growth are often held back by imprecise terminology and a lack of detailed quantitative evidence.
Cointime精选 ·

Ethereum: The Infinite Story Machine 💫

Yesterday, the first issue of the new ETH Investors Club (EIC) magazine went live digitally, with physical copies redeemable via NFTs on the way. The EIC effort is focused on spotlighting Ethereum’s current landscape through high-quality essays, and I’m honored that my piece, The Infinite Story Machine, was featured in the inaugural “Culture Corner” section.