They front-run the front-runners and made $25M.
Imagine stealing $25 million from some of the smartest bots in the world.
Welcome to the wild west of cryptocurrency.
Two brothers, Jason and Gary Jordan, allegedly pulled off an audacious digital heists by outsmarting Ethereum MEV (Maximal Extractable Value) bots.
MEV bots are supposed to be the big brains of the crypto world.
They exploit inefficiencies in Ethereum transactions to make profits.
MEV bots, or Maximal Extractable Value bots, are automated programs that operate on blockchain networks like Ethereum.
Their main job is to find opportunities within blockchain transactions to make a profit.
Think of them as highly skilled digital traders.
Here’s how they work:
- Scanning Transactions: MEV bots scan the blockchain for pending transactions.
- Identifying Opportunities: They look for transactions that can be manipulated for profit. This could be something like a price difference between exchanges or a big trade that might move the market.
