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EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
@EigenPhi
Apr 24 • 5 tweets • 2 min read Twitter logo Read on Twitter
Discover Q1 2023's most astounding MEV windfalls at our event "Mastering MEV: Unraveling the DeFi Mystery of Latency and its Impact" at #Consensus2023! Follow us to learn how the USDC Depeg created incredible MEV opportunities 🚀

🎟️ Claim your ticket: eventbrite.com/e/mev-past-fut…
According to our tracking data, the USDC depegging in Q1 2023 led to a massive MEV revenue peak. Arbitrage contributed $40M, sandwich MEV extracted $46M, and liquidation took $2M from the market. 📈
MEV searchers generated over $89M in Q1 revenue, but a large portion (78.9%) was paid by sandwich attackers to builders for successful front-run/back-run transactions. Arbitrageurs and liquidators paid over half of their revenue to builders and validators. 💰
Amidst the panic, one unfortunate trader lost almost $2M in a single swap, starting with over $2M and ending up with only 0.05 USDT. 😢
Intrigued by the market signals preceding the USDC price plunge? Attend our event and learn how to stay at the cutting edge of the market!
📅Date: Wednesday, April 26 · 4 - 7 pm CDT
📍Location: Hi Hello Events & Venue 207 San Jacinto Boulevard #100, USA (bit.ly/3GSNiyc)

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More from @EigenPhi

EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
Apr 1
This is an in-depth 🧵thread🧵 of the Euler Attack. We not only cover what happened during the attack, but also give our analysis on the beneficiaries and losers, whales affected, and addressed with net large flows👇
Ethereum-based noncustodial lending protocol Euler Finance faced a flash loan attack on March 13. The attacker stole millions in $DAI, $USDC, $WETH, $stETH, and $wstETH.
The exploiters' addresses transferred $740.28 million to the Euler contract, while the Euler contract transferred $944.75 million to the exploiters' addresses. As a result, the exploiters gained $204.46 million from Euler Finance, aligning closely with third-party data.
Read 10 tweets
EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
Mar 30
2022 is a memorable year for DeFi. Terra Luna, 3AC, Celsius, FTX... Despite all these downfalls, MEV still contributed $328B, half the total DEX volume of $666B on Ethereum. This wonderful Twitter Space reflects on the past year and looks to the future. eigenphi.substack.com/p/highlights-f… Image
All the insights below are from these fantastic guests:
⭐️ @christine_dkim, VP, Research at @galaxyhq
⭐️ @sui414, Danning, Lead Data Scientist at @0xProject
⭐️ @_bout3fiddy_, Core Contributor of @CurveFinance
⭐️ @_prestwich, James Prestwich, Founder/CTO of @nomadxyz_
⭐️… twitter.com/i/web/status/1…
👉Metrics
@christine_dkim: it may vary and rely more on analyzing smart contract activity and understanding how markets are moving. It's crucial to note that MEV is multifaceted, and one's interest may heavily depend on their focus.
Read 13 tweets
EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
Mar 30
We were excited to work with @DefiLlama to protect traders with timely notifications and alerts to probable MEV attacks. Find out more in our "Weekly Highlights"
eigenphi.substack.com/p/weekly-highl…
Arbitrum $ARB Airdrop went LIVE on March 23rd with price volatility in the market. EigenPhi can make TX tracking easy by visualizing $ARB transactions with our EigenTX Chrome Extension(bit.ly/3RnUOUp).
On March 23rd, EigenPhi joined by MEV experts, had fruitful discussions on the topic of MEV in 2022. Questions were asked. Opinions were shared. Discover more and stay tuned for for the highlights Image
Read 4 tweets
EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
Mar 14
🧵Analysis & Thoughts: User's $2M Loss in USDC De-Pegging Crisis Raises Questions About KyberNetwork's Responsibility.
1/6 In the wake of the recent #USDC de-pegging crisis, a user named CHIA reportedly lost $2 million while converting 3Crv to USDT through @KyberSwap. While @KyberNetwork issued a lengthy statement on Twitter absolving themselves of any blame, an analysis of the situation suggests… twitter.com/i/web/status/1…
2/6 The root of the issue seems to lie in Kyber Network's inability to enforce the user's 0.5% slippage limit and revert the trade accordingly. CHIA has stated in the Kyber Network Telegram group that they had set the slippage to 0.5%, and the input data of the transaction… twitter.com/i/web/status/1…
Read 7 tweets
EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
Mar 14
If you want to track the footprint of the exploiter of a risk event, browsing Etherscan can be exhausting sometimes. Now, our Related Transaction feature can be a lifesaver.
Has the exploiter done something else fishy in the same block? 👇
What other txs the same "from" EOA involves himself with? 👇
Read 6 tweets
EigenPhi HQ 🎯 Wisdom of DeFi (🔭, 🎙) Profile picture
Mar 13
$403 million in 41 separate attacks; according to Chainalysis, this is the loss due to oracle manipulation in 2022.
Days ago, EigenPhi organized a Twitter Space discussing how to prevent Oracle attacks with industry experts.
They are:
⭐️@pmcgoohanCrypto, founder of ZeroMEV.
⭐️@yajinzhou, co-founder of @BlockSecTeam.
⭐️@KaihuaQIN and @lzhou1110: two influential DeFi security researchers at @imperialcollege.
⭐️0xpotato from @SlowMist_Team.
⭐️@jayantkrish, core contributor of @PythNetwork.
Here are some of the highlights of this invaluable discourse, focusing on 3 topics:
1️⃣Which oracle-related exploit has daunted you the most?
2️⃣How many types of oracle attacks would you like to categorize?
3️⃣How to mitigate oracle-related risks?
Read 13 tweets

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