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<a href="https://bitcoinworld.co.in/a-uniswap-user-lost-700000-to-an-mev-bot-but-it-only-made-260/" title="A Uniswap User Lost $700,000 to an MEV Bot — But it Only Made $260" rel="nofollow"></a>
A Uniswap V3 user who appears to have misidentified one token for another when forming a liquidity pool lost approximately $700,000 in 12 seconds to a MEV-related transaction.&nbsp; 
When the user <a href="https://etherscan.io/tx/0x1114432ef38437dde663aeb868f553e0ec0ca973120e472687957223efeda331">added</a> $1.56 million worth of wrapped BTC to the liquidity pool, it appears that they confused the value of the Curve DAO token (CRV) for USD. However, the user <a href="https://etherscan.io/tx/0xa1988ed7ee2bb320bf0da8bc36156bf8b4a941c646d2fad46b6a2377cad7346d">received</a> 1.56 million CRV in return, which was only worth about $850,000 at the time. 
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/ethereum-whale-withdraws-8698-eth-from-binance-heres-reason/" aria-label="“Ethereum Whale Withdraws 8,698 ETH From Binance, Here’s Reason” (Edit)">Ethereum Whale Withdraws 8,698 ETH From Binance, Here’s Reason</a> 
MEV bots raced in to take advantage of the arbitrage, albeit the most successful only made only $260 after paying a $527,000 bribe to validators to ‘frontrun’ other bots and get its transaction through first, according to blockchain analytics <a href="https://x.com/ArkhamIntel/status/1720798847763394848?s=20">firm Arkham</a>. “Tough luck,” Arkham wrote in his post.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 MEV Bots instantly rushed the pool to swap CRV for valuable WBTC – with the first bot making off with $1.36M in WBTC for only $730K in CRV. 
 But the bot only netted ~$260, paying $527K of ETH to the validator just to make this transaction. 
 Tough luck! <a href="https://t.co/3JbVwhwYoj">pic.twitter.com/3JbVwhwYoj</a> 
 — Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1720798847763394848?ref_src=twsrc%5Etfw">November 4, 2023</a>
</blockquote> 
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Transaction errors, often known as “fat finger” errors, are not uncommon in crypto. Last month, a user exchanged nearly $130,000 in one stablecoin, USDR, for $0 in another stablecoin, USDC. 
The post <a href="https://bitcoinworld.co.in/a-uniswap-user-lost-700000-to-an-mev-bot-but-it-only-made-260/">A Uniswap User Lost $700,000 to an MEV Bot — But it Only Made $260</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

A Uniswap User Lost $700,000 to an MEV Bot — But it Only Made $260

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