Key Takeaways:
- Solana-based MEV sandwich bot “arsc” has amassed approximately $30 million in the last two months.
- The bot uses three main wallets: one for cold storage with $19 million, one active in DeFi with $9.9 million, and one for conducting attacks.
- The operator of “arsc” employs measures to remain low-profile and obscure their activities and profits.
MRGN Research’s Ben Coverston has highlighted the activities of a Solana-based MEV sandwich bot named “arsc,” which has amassed around $30 million through MEV attacks in the past two months.
These attacks involve sandwiching a victim’s transaction between two of the attacker’s transactions to manipulate prices and profit.
UPDATE: SOLANA-BASED MEV ARBITRAGE BOT EARNS OVER $30M FROM SANDWICH ATTACKS IN LAST TWO MONTHS – MRGN RESEARCH
— BSCN Headlines (@BSCNheadlines) June 17, 2024
Coverston points out that arsc has intentionally kept a low profile.
One of arsc’s major wallets, primarily for cold storage, holds over $19 million, including $17 million in Solana (SOL) and $1.1 million in USD Coin (USDC).
Another active wallet, involved in decentralized finance activities, holds over $9.9 million, mostly in non-SOL tokens.
💰 MEV sandwich bot named "arsc" has accumulatd $30 million by exploiting Solana users through MEV attacks in a span of just two months.#Solana #MEVhttps://t.co/UlF12pLqro
— Cryptonews.com (@cryptonews) June 17, 2024
A third wallet, used for conducting the sandwich attacks, holds significant SOL positions.
Overall, these three wallets hold nearly $30 million.
Coverston notes that the operator behind arsc seems to be avoiding attention and has taken measures to obscure their activities and profits.
#Solana MEV sandwich bot accumulates $30m in two months 🥪🤖💥
— CryptoSavingExpert ® (@CryptoSavingExp) June 17, 2024
Click below to find out how 👇👇👇https://t.co/W3r8c1nPab pic.twitter.com/blZlD00qe4
MEV sandwich bots are also prevalent on Ethereum, having extracted over $1.38 billion from users by April 2023.
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