MEV Bot Operator Burns Through 210 ETH in Gas Fees in 24 Hours
CryptoNewsTerminal Staff06 Jun, 2024
MEV Bot Operator Burns Through 210 ETH in Gas Fees in 24 Hours
MEV, or Miner Extractable Value, refers to the practice of validators optimizing the order in which blockchain transactions are recorded to maximize extractable value, similar in concept to arbitrage. In the past 24 hours, MEV bot operator ‘jaredfromsubway.eth’ spent 210 ETH, roughly $810,000, on Ethereum gas fees, making it the single highest gas spender in the last 24 hours, analytics platform The Block reported, citing Etherscan data. This incident highlights the increasing prevalence of MEV bots on the Ethereum network, which has become a major source of concern for many in the blockchain community. As more and more bots compete for profitable transactions, gas fees will likely continue to rise. This can have a negative impact on the usability and accessibility of the Ethereum network, especially for small-scale users.
