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Good at Hacking, Bad at Trading: MEV Bot Exploiter Makes Costly ETH Bet

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The unknown hacker behind June’s exploit against the Ethereum maximal extractable value (MEV) bot jaredfromsubway.eth continues to try to time the market with their ETH moves, but with negative consequences.

Using the proceeds they secured from the $7.7 million attack, the bad actor made some questionable decisions that actually cost them a portion of their loot.

Data from Lookonchain indicated that the exploiter sold 2,327 ETH at prices just under $1,700 after the hack. However, they changed their mind on Ethereum and started to accumulate earlier today, purchasing 2,063 ETH at an average price of $1,912 per token.

This meant that the perpetrator booked a $505,000 loss since they received $3.94 million for the sale following the hack and now spent the same amount just to receive 264 fewer tokens.

The actual attack took place on June 20-21 when the perpetrator tricked the automated sandwich bot using fake liquidity pools and deceptive tokens, swiping around $7.7 million.

They started moving millions of dollars through Tornado Cash immediately, while the team behind the MEV bot offered a 50% bounty and a 48-hour deadline to respond, or would pursue “all available legal and law-enforcement remedies.”

There was no official response, but the hacker’s actions spoke louder, as they have not returned any of the funds, and the trade from above is the latest confirmation of a rejection.

Príspevok Good at Hacking, Bad at Trading: MEV Bot Exploiter Makes Costly ETH Bet sa objavil ako prvý na CryptoPotato.

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