A MEV Bot Amass 250K $SOL($34M) in Two Months Using This Strategy
A MEV bot, operating under the enigmatic wallet address “9973hW…wzyWp6,” amassed a staggering $34 million in just two months.
The bot could execute transactions milliseconds before other users by analyzing the blockchain for profitable arbitrage opportunities, effectively scooping up the best deals. Its targets included popular tokens like $SOL, $RNT, $TOPG, and $MOTHER, generating millions in profits for its anonymous creators.
The infamous maximal extractible value (MEV) sandwich bot known as “arsc” has pocketed around $30 million from Solana users through MEV attacks in the last two months.
MEV (Miner Extractable Value) sandwich attacks involve an attacker inserting their transactions around a victim’s transaction to manipulate prices and profit. The attacker can profit from this activity by buying the victim’s token at a lower than market value and selling it in the same block.
MEV Bot Sandwich Transactions
On June 15, Ben Coverston, the founder of cryptocurrency firm MRGN Research, mentioned an elaborate sandwich bot called “arsc” that has been making profits from Solana network users while trying to avoid detection.
Coverston believes that one of the bot’s primary wallet addresses, “9973h…zyWp6,” is primarily for cold storage and seems relatively inactive, indicating that it is a locked-down, cold wallet.
According to Solana explorer site SolanaFM, this wallet holds over $19 million in total funds, including $17 million worth of Solana’s SOL$136 tokens and $1.1 million in Circle’s USD Coin USDC $1.00 stablecoin.
An enigmatic wallet address, “9973hW…wzyWp6,” associated with a similar bot, recently gained attention in the crypto community for amassing $34 million in just two months.
Notably, the bot achieved its success through a combination of speed, efficiency, and strategic manipulation. The bot could execute transactions milliseconds before other users by analyzing the blockchain for profitable arbitrage opportunities, effectively scooping up the best deals. Its targets included popular tokens like $SOL, $RNT, $TOPG, and $MOTHER, generating millions in profits for its anonymous creators.
As reported by SolanaFM, the total funds held amount to over $9.9 million, mainly consisting of non-SOL tokens. Coverston has identified a third wallet address, “BCbrp…vi58q,” which he suspects to be ARSC’s primary SOL bank because it uses multiple signers and tippers to execute sandwich attacks.