Blockchain security firm SlowMist found a growing number of people lost funds to fake trading bots that use OpenAI’s ChatGPT in the name to build legitimacy.
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An MEV bot took out a $11.9 million loan to sandwich attack a user, but barely made enough to cover lunch.
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The MEV bot returned nearly all of the funds, and the team claimed that $500,000 was being paid to it as a bounty.
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The MEV bot responsible for profiting nearly $8 million in stablecoins returned the funds but wanted the Rho Markets team to admit it was not a hack or exploit.
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According to stablecoin transfer volume metrics divided by blockchain, Solana’s daily transfer volume has decreased from a range of $75 billion to $100 billion daily to around $7 billion daily. Additionally, a crypto advocate expressed doubts about the legitimacy of Solana’s previous stablecoin transfer volumes, indicating that the metrics were highly overstated. Stablecoin Metrics Reveal […]
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MRGN Research’s Ben Coverston says the Solana-based MEV bot has made an active effort to date to keep a low profile.
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