Cryptocurrency [loss] $440,000

Tweet thread by Arkham

2023-05-27 [vendor] Malfunctioning MEV bot [chain] ethereum
Primary Source ↗
Financial Loss $440,000 (440,000 USD)
Blockchain(s) Ethereum

Incident Details

Some traders hoping to snipe new tokens launched by Poo Finance (yes, really) decided to try to use a MEV bot to snag priority ordering compared to other pending blockchain transactions. They spent a combined 240 ETH ($440,000) to be spent on the tokens and on bribes paid to the bot. However, the bot sent the tokens to the wrong Uniswap pool, ultimately obtaining only 4 ETH ($7,300) of Poo Finance tokens.

Total loss estimated at $440,000.

Technical Details

Initial Attack Vector
MEV / sandwich attack
Vendor / Product
Malfunctioning MEV bot

Timeline

  1. 2023-05-27 Breach occurred
  2. 2023-05-27 Publicly disclosed