This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
Share Dialog
Share Dialog
Ok I know, lame headline attempt. MEV (Maximal Extractable Value) bots are used mainly for arbitrage plays, and are known to do hundreds of thousands of transactions per month to try and reach maximum profits. Bert Miller, the product lead of a MEV bot research team called Flashbots detailed his findings on Twitter, and it's a story of victory followed by deep loss. A MEV bot operator won an arb(itrage) jackpot of 800 ETH in a single transaction on Sept 28th, only to lose it all plus another 300 ETH to a hacker an hour later. Miller noted that the owner had failed to protect the function they used to execute flashloans on the dYdX exchange, which was sniffed out.
https://twitter.com/bertcmiller/status/1574852628030361609
So the person that was selling their $1.8m cUSDC got screwed by the MEV bot and the MEV bot got screwed by a hacker. Do we finally have a story where a hacker brings justice instead of just evading it?!
Written by: nikethereum.eth / Medium / Mirror
Ok I know, lame headline attempt. MEV (Maximal Extractable Value) bots are used mainly for arbitrage plays, and are known to do hundreds of thousands of transactions per month to try and reach maximum profits. Bert Miller, the product lead of a MEV bot research team called Flashbots detailed his findings on Twitter, and it's a story of victory followed by deep loss. A MEV bot operator won an arb(itrage) jackpot of 800 ETH in a single transaction on Sept 28th, only to lose it all plus another 300 ETH to a hacker an hour later. Miller noted that the owner had failed to protect the function they used to execute flashloans on the dYdX exchange, which was sniffed out.
https://twitter.com/bertcmiller/status/1574852628030361609
So the person that was selling their $1.8m cUSDC got screwed by the MEV bot and the MEV bot got screwed by a hacker. Do we finally have a story where a hacker brings justice instead of just evading it?!
Written by: nikethereum.eth / Medium / Mirror
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