- What is MEV (Maximum Extractable Value)?
- New Strategy of Jaredfromsubway.eth
- Crypto Community Reaction
A mysterious MEV bot operator known as Jaredfromsubway.eth is causing a stir in the cryptocurrency world with new, aggressive tactics that are raking in millions of dollars in Ethereum.
What is MEV (Maximum Extractable Value)?
MEV, or Maximum Extractable Value, involves reordering blockchain transactions to maximize profits. It’s a controversial practice that can manipulate the order in which trades are executed, impacting users’ prices, especially on decentralized exchanges like Uniswap.
New Strategy of Jaredfromsubway.eth
Since August 14, Jared, whose name references the disgraced former Subway spokesperson, has seemingly upgraded his operations, switching to a new contract address. The new address, created by the same key pair as his original bot, has already processed over 85,000 transactions, generating approximately 765 ETH—just under $2 million at current prices. His bot employs sophisticated sandwich attacks—a strategy that involves front-running and back-running other users’ trades to exploit price differences, leaving victims with worse execution prices while Jared pockets the profit. These advanced techniques involve adding and removing liquidity in ways that trap unsuspecting traders, driving up prices and selling at a premium.
Crypto Community Reaction
EigenPhi’s analysis suggests that Jared’s new tactics are just the beginning, hinting at the potential for even more elaborate and aggressive strategies in the future. On June 6, Jared spent 210 ETH ($810,000) on gas fees, making him the top spender on Ethereum that day. The crypto community is watching closely, trying to keep up with the latest developments in this high-stakes digital cat-and-mouse game.
As Jared continues evolving his approach, the crypto community is closely following his next steps. These latest developments only heighten interest in the high-stakes ecosystem within the cryptocurrency market.
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