MEV bot loses $180K in ETH from access control exploit

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The story "MEV bot loses $180K in ETH from access control exploit" was covered 2 weeks ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 2w ago

MEV bot loses $180K in ETH from access control exploit - Coin Telegraph

Quick Summary:

On April 23, 2023, bots who performed sandwich trades lost their crypto to a validator that went rogue. Related: ‘Unlucky’ MEV bot takes out huge $12M loan just to make $20 in profitRise in fake MEV bot guidesAn MEV bot on Ethereum is a trading bot that exploits maximal extractable value.

The owner then deployed a new MEV bot with stricter access control validation. Sobolev compared the exploit to a similar incident in 2023, where MEV bots lost $25 million after being exploited.

A maximal extractable value (MEV) bot lost about $180,000 in Ether after an attacker exploited a vulnerability in its access control systems. On April 8, blockchain security firm SlowMist reported that the MEV bot lost 116.7 Ether (ETH) because of the lack of access control.