A user lost over $700,000 due to the actions of a MEV bot 💸 Friends, today I came across an interesting story related to MEV-bot. Let me first tell you what it is, as many people may not know. 🔤 MEV (Maximum Extractable Value) is the value that a miner or validator can earn extra by changing the order of a transaction. ⚫️Let's get to the story. One unknown user lost $700,000 due to the actions of a MEV bot. He created a liquidity pool of WBTC-CRV tokens on Uniswap and mistakenly set the rate per CRV to $1. He then added $1.56 million worth of liquidity to this pool in WBTC token. The transaction attracted the attention of MEV bots, which bought all of his tokens in 12 seconds. The bot paid the validator $527,000 for the transaction, and its premium on the transaction was about $260. 📍Thus the user received 1.56 million CRV, which in turn amounted to $700,000 at the time. ❕ The story may not be clear to many people, as this is not the easiest topic. Come on, if you put a lot of 🔥, I'll do a detailed post about how MEV bots work. CRYPTO TREYSI | Subscribe