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Subway-themed trading bot makes millions using ‘sandwich’ attacks

Published 04/20/2023, 01:33 AM
Updated 04/20/2023, 03:20 AM
ETH/USD
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An anonymous Maximal Extractable Value (MEV) bot operator has cashed in well over $1 million this week by executing “sandwich attacks” against buyers and sellers of two new meme coins.

The wallet address, linked to the Ethereum Name Service (ENS) domain “jaredfromsubway.eth” made $950,000 from the sandwich attacks on April 18 and profited about $300,000 and $400,000 on April 17 and 19 respectively according to an April 19 tweet from nonfungible token (NFT) data platform Sealaunch.

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