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Robert Miller Profile picture
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9 Jun, 8 tweets, 2 min read
A thread of all my MEV related threads in chronologic order ๐Ÿ‘‡๐Ÿป
The Sandwich Baiting Wars
The first Uncle Bandit pulling off a multi-block heist and launching a new category of MEV strategies
The second Uncle Bandit steps in the ring, revealing a surprising identity, and making off with 125 ETH
Vitalik using ArcherSwap to escape the predators of the dark forest
A honey pot targeting some of Ethereum's most sophisticated users
Flashbots releases v0.2 and introduces bundle merging
MEV-SGX: a proposal for complete privacy and permissionlessness using secure enclaves

โ€ข โ€ข โ€ข

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More from @bertcmiller

Robert Miller Profile picture
1 Jun
Yesterday Flashbots published MEV-SGX, our proposal for using secure enclaves to provide a private mempool and a sealed bid MEV auction.

Thread on how MEV-SGX works and why it matters ๐Ÿ‘‡๐Ÿป
ethresear.ch/t/mev-sgx-a-seโ€ฆ
Flashbots' focus is to enable a permissionless, transparent, and fair ecosystem for MEV extraction.

To date we've made progress on this by releasing two products: Flashbots Alpha and MEV-Explore.
Flashbots Alpha is composed of MEV-Geth and MEV Relay

MEV-Geth is a client that allows users to communicate granular transaction order preferences through transaction "bundles"

MEV-Relay is a gateway that Flashbots runs today, for reasons we'll discuss below
Read 18 tweets
Robert Miller Profile picture
13 May
Introducing the Flashbots Dashboard, a collection of real time metrics to give the community transparency on the Flashbots Network:

dashboard.flashbots.net

Thread ๐Ÿ‘‡๐Ÿป
In January Flashbots released Flashbots Alpha v0.1, a proof of concept communication channel between miners and users that enables transparent and efficient MEV extraction.

Since then we've seen rapid adoption, and now over 30% of blocks on Ethereum are Flashblocks.
Flashbots has two types of direct users today: searchers & miners

Searchers are users who send transactions via Flashbots - today these are mostly bot operators extracting MEV

Miners are the block producers of Ethereum today, who want to extract MEV in a fair & transparent way
Read 12 tweets
Robert Miller Profile picture
12 May
Even @VitalikButerin can't escape the monsters of the dark forest

Twitter wasn't the only party watching Vitalik's wallet. As always bots were ready to extract what value they could from his pending transactions.

Brief recap of those bots and what Vitalik did
Earlier today Vitalik sold his Shibu on Uniswap, and @FrankResearcher documents that adventure well

Normally when you swap on Uniswap the transaction is publicly relayed through nodes until it reaches miners. Due to this anyone who wants to can see the transaction before it is mined.
Read 13 tweets
Robert Miller Profile picture
12 May
Deleted my tweet about V getting sandwiched, he actually got backrun
This bot backran 3 different shibu transactions in a single block, including Vitalik's

Never seen that before
The plot thickens! The bot that backran Vitalik was actually Ethermine's.

They also run sandwich bots so it's interesting they chose to backrun him instead of sandwiching.
Read 4 tweets
Robert Miller Profile picture
22 Apr
An Ethereum Uncle Bandit strikes again, this time for 145 ETH

However this time the bandit left a trail to their identity, and you'll learn who it is in this MEV story ๐Ÿงต๐Ÿ‘‡๐Ÿป

h/t @AlchemyPlatform for the artwork
If you haven't read about the OG uncle bandit then that would be a good place to start.

I won't repeat all the mechanisms of this attack here, but I made a previous thread on it:


Alchemy also had a good writeup: medium.com/alchemy-api/unโ€ฆ
Our investigation starts with this massive - but otherwise innocuous - Flashbots transaction that has 0 gas price and a payment of 80 ETH to a miner. Makes sense.

It looked at first like someone sniping a new token on Uniswap.
Read 15 tweets
Robert Miller Profile picture
15 Apr
Alright everybody, join me as I relay a heist that took place across blocks yesterday and unveil a novel form of MEV.

Again it will be a long and semi-technical journey but I think it is worth it.
I woke up yesterday to a searcher extremely distraught because apparently only 1 of 3 transactions in their bundle landed on-chain.

What's worse is someone else's transaction seemed to have been added instead of their own.
A quick look and the searcher seemed to be right.

Only the "buy" part of a sandwich bundle they submitted had landed on-chain, and right after that buy someone else had inserted a 7 gas tx arb-ing it

Check the images for a bit more info
Read 22 tweets

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