1/10 Yesterday must have been an awful day for rich token holders, as the top 3 victims of the day are all Token Millionaires.
2/10 The Token Millionaire with $10M in holdings has suffered heavy loss in the last 7 days. It was squeezed for $399,46 in 16 🥪s while losing $18,789 in yesterday's 🥪. eigenphi.io/ethereum/sandw…
3/10 This 🥪 was also the top tx of the day, bringing the 😈 over $5,632 in profits. eigenphi.io/ethereum/tx/0x…
4/10 The 😢 at the time was trying to swap 2,650 $WETH for $USDC but became the recipe of the 🥪.
How did the 😈 make the front-running? It just used 1,473 $WETH to buy $USDC, which raised the $WETH/$USDC price in a UniV3 LP (0x88e). Thus the 😢 had to pay more $WETH than usual.
5/10 In another 🥪, whose victim has lost over $23,480, the #MEV employed over $12.8M to launch the attack with the help of an AAVE loan.
Finally, it only earned $3,063.9. The cost reached $20,416, most of which was paid to the miner 🔨. eigenphi.io/ethereum/tx/0x…
Also, you can submit some of the awesome tx you find in the report to #AwesomeTx Bounty, where 500 $USDT is waiting for you: github.com/eigenphi/Aweso…
1/11 Token front-running was common at Coinbase crypto exchange, and Hasu's deleted tweet suggested MakerDao suffered from EMO governance.DeFi Daily Digest 2022-08-18: More Front-Running on Coinbase, and MakerDao's $400M Bank Run. eigenphi.substack.com/p/defi-daily-d…
2/11 Security
1️⃣ A New Study found suspicious trading like insider trading or front-running around 10% to 25% of new crypto listings coindesk.com/business/2022/….
3/11 Market
1️⃣ Coingecko has released a new ‘Tokenomics’ tab that will allow users to quickly see a protocol’s tokenomics .
Here is the tracker docs.google.com/spreadsheets/d….
2/6 Here's how the searcher🕵️♂️ made this: 1) The 🕵️♂️ sent 4,700 $WETH from Balancer Vault to a Curve LP 0xd51a (Step 0,1 in the figure) and swapped the money for 6,075,210 $USDT (Step 2).
3/6 2) After receiving the $USDT, the 🕵️♂️ swapped only 6,074,603 $USDT for $USDC in another Curve LP 0xbebc (3,4), remaining 607 $USDT.
3) Then, 6,065,352 from 6,065,959 $USDC was swapped to 5,606 $WETH through Uniwap V2 (5,6), during which the searcher reserved 607 $USDC.
2/9 The 😢 of this 🥪, also the biggest victim of the day, was a Tornado Cash Withdrawer. eigenphi.io/ethereum/sandw…
It lost $11,840 in the attack when swapping 895.95 $WETH for $renBTC.
However, the #MEV 🤖 only earned $4,259, since it paid $7,580 to the DEX and miners 🔨.
3/9 A consequence of the 🥪 was the rise of $renBTC, which became the hottest token yesterday.
Top LP: a $WETH/$renBTC pool. eigenphi.io/ethereum/token…
MEV market is constantly changing. The arb window is usually gone in minutes, even secs. Receiving the latest arb tx can be crucial for searchers. So is big whales' trading creating arb alpha. Don't want to miss these? Follow our 🚨 :
Let's start with the roles involved in the transaction:
• From: an EOA account, 0xffFf14106945bCB267B34711c416AA3085B8865F.
• To: MEV 🤖, 0xEdE2faFBa9e23418485f49f052D0e1d332853E0F.
• 0x1ce9: an EOA account, 0x1ce943e573041463202090cf662490c95585a046.
#2
And protocols:
• @dYdX Solo Margin: a decentralized trading platform.
• 1inch/1inch V4 Router: DeFi exchange aggregator.
• Uniswap V3: a DEX/AMM.
• MakerDAO PSM/DssPsm: Maker's Peg Stability Module.
• Curve Pool: an exchange liquidity pool on Ethereum.
Who was the biggest victim of Sandwich #MEV yesterday? It's a Token Millionaire who's been receiving more than $10M $USDT. zapper.fi/account/0xbbc5…
#1
The whale swapped more than $6.1M $USDT for $WETH and became the 😢 of 🥪 , losing $21,357.53. eigenphi.io/ethereum/tx/0x…
#2
The 👿 used ( $WETH , $aWETH , $variableDebtUSDC , $USDC , $aUSDC , $USDT ) for the attack. We have dissected this MO in this post: How to Use AAVE Loan to Launch a Sandwich MEV Attack? eigenphi.substack.com/p/aave-loan-sa…