Multicoin Leads $2.3M FastLane VC Deal, Continuing Its Bet on MEV Infrastructure

Multicoin Capital, a crypto-focused investment firm, has led a $2.3 million seed funding round for FastLane Labs, a maximal extractable value (MEV) protocol for Polygon. This marks the third time Multicoin has backed infrastructure for MEV, a controversial way for validators to earn more money while ordering transactions on a blockchain.

MEV and Flashbots: The Uniquely DeFi Tale

MEV, Incentive Re-Engineering, and the Perennial Perils of Decentralized Systems

Ethereum Projects Unite To Protect Users From MEV-Induced High Prices

Over 27 prominent Ethereum projects joined hands to launch MEV Blocker, a solution that aims to tackle and minimize the amount of value extracted from their users, a.k.a maximally extractable value (MEV) — Ethereum’s invisible tax. 

Rogue Validator Exploits MEV Bots on Ethereum, Resulting in $25.3M in Crypto Losses recently reported on the exploitation of MEV (Maximal Extractable Value) bots on the Ethereum network, resulting in $25.3 million in cryptocurrency losses. The incident was reportedly caused by a rogue validator on the Ethereum network who used a MEV bot to manipulate transactions and steal funds.

Crypto Evening Briefing: Ethereum MEV Bot Gets Attacked for $20M

A major Ethereum MEV (maximal extractable value) bot has been targeted in an attack, resulting in the loss of almost $20 million.

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.

Sandwich Trading Bots Lose Bread and Butter in $25M Exploit

Maximal Extractable Value (MEV) bots attempting to perform sandwich trades were outsmarted by a rogue validator, resulting in a loss of $25m worth of digital assets, according to blockchain security firm CertiK. The bots lost $1.8m in Wrapped Bitcoin (WBTC), $5.2m in USD Coin (USDC), $3m in Tether (USDT), $1.7m in DAI (DAI), and $13.5m in Wrapped Ether (WETH) to the validator, with the majority of funds transferred to three different wallets. The CertiK team said this was one of the largest exploits on MEV bots they had recorded since September 2022, adding that it could potentially affect other MEV searchers conducting strategies like sandwich trading.

The Most Common Types of MEV and Protection From Toxic Strategies

MEV can be an effective mechanism for making profits in DeFi, but often, profits come at the expense of other users.

Cypher Capital Announced the Completion of a Six-Figure Investment Into Wallchain

Cypher Capital, a Dubai-based multi strategy venture capital firm announced the completion of a six-figure investment into Wallchain, a solution for businesses in the short term and individuals in the longer term that provides protection against unfair practices used by miners to extract value and capture arbitrage profits generated from DeFi transactions.

What is MEV in Ethereum?

Maximal Extractable Value (MEV) is a method for miners or validators to increase their profits by changing the order of transactions before approving a new block on the network.