MEV Bot Exploits Solana Network, Profits $30 Million
CryptoNewsTerminal Staff17 Jun, 2024
MEV Bot Exploits Solana Network, Profits $30 Million
MEV bots, particularly 'arsc,' have been exploiting the Solana network, amassing an estimated $30 million in profits for its operators. By executing sandwich attacks, inserting buy and sell transactions around targeted user transactions in mempools, arsc has taken advantage of price variations. The wallet associated with the bot holds a sizable amount of SOL and USDC. The Solana Foundation has acknowledged the issue and continues to monitor validators involved in MEV-enabled actions.