Hackers With MEV Bot Make Thousands Of Dollars From Users Of Uniswap

Anonymous Lens Protocol developer and Chainstride Capital VC fund co-founder exposed a fraudulent YouTube campaign focusing on users trying to benefit from Ethereum’s Maximum Extractable Value (MEV).

Engineer and investor @_apedev, a specialist on MEV strategy, alerted his followers about a new YouTube fraud in a recent Twitter thread.

A tutorial illustrates how to develop an MEV bot — an automated instrument that functions as an arbitrage trading tool to gain from MEV — in the video referenced by @_apedev.

This “bot” is said to be capable of earning its owner over $1,000 merely by “sniping” Uniswap (UNI) orders. According to the creator, this program empties wallets and transmits funds to fraudsters’ addresses.

The video in issue was still available on YouTube at the time of publication. The video has received over 330,000 views and 21,000 likes in two weeks. However, its numbers might be skewed: all of the comments underneath the video are automated and posted from a bot farm in Turkey.

Furthermore, @_apedev was able to decrypt the Ethereum (ETH) address connected to the mastermind of the phishing campaign. They made almost $30,000 in 24 hours from greedy YouTubers.

This shows that, even with the cryptocurrency market falling, fraudulent activities on YouTube are still successful. During the bull market, crypto scammers made $60,000 using the “good old” XRP airdrop.

This fraud involved impersonating celebrities (ranging from Elon Musk to Vitalik Buterin and Bill Gates) and urging cryptocurrency investors to give them money (XRP, ETH, BTC) in exchange for a 100% bonus.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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