MEV Robot Jaredfromsubway.eth Makes $1.4 Million Through Sandwich Attacks on Meme Coins

On April 20th, according to NFT data and research platform Sealaunch monitoring, a MEV robot named jaredfromsubway. eth has recently made over $1.4 million in profits from sandwich attacks on buyers and sellers of Meme coins such as WOJAK and PEPE.

A MEV robot made a profit of over $1.4 million by executing a sandwich attack in a Meme coin transaction

Introduction

On April 20th, NFT data and research platform Sealaunch monitoring revealed that a MEV robot named jaredfromsubway.eth had made over $1.4 million in profits from sandwich attacks on Meme coins, including WOJAK and PEPE. This article delves into the details of what sandwich attacks are, how they work, and how jaredfromsubway.eth pulled off this massive heist.

What are Sandwich Attacks?

A sandwich attack is a type of front-running that occurs in the world of Decentralized Finance (DeFi). It involves placing two transactions before and after a targeted transaction. The first transaction is designed to push up the price of the targeted asset, while the second one sells it at an increased value before the original transaction can be executed. In doing so, sandwich attackers take advantage of the inherent time delay in the processing of smart contracts on the Ethereum blockchain.

How do Sandwich Attacks Work?

Sandwich attacks exploit the fact that Ethereum’s network operates a first-come, first-served system when executing smart contracts. When a user submits a transaction, they announce their intent to buy or sell an asset at a certain price. However, this transaction takes time to reach the next block, and during this time, the value of the asset may have fluctuated. Sandwich attackers capitalize on this short-term volatility to buy low and sell high.

Jaredfromsubway.eth’s Sandwich Attack on Meme Coins

Jaredfromsubway.eth is a MEV (Maximal Extractable Value) robot that takes advantage of such inefficiencies. It is a piece of software that listens to and intercepts Ethereum transactions to execute sandwich attacks. On April 20th, it carried out a series of sandwich attacks on buyers and sellers of Meme coins, such as WOJAK and PEPE. The attack resulted in profits of over $1.4 million.

The Implications of This Attack

This sandwich attack by jaredfromsubway.eth has implications for the already volatile world of DeFi. It highlights the risks associated with front-running and how susceptible the Ethereum blockchain is to such malicious activities. It also raises concerns about the fairness of DeFi and calls for more robust measures to curb such attacks.

Conclusion

The world of DeFi is complex, and sandwich attacks are just one of the many ways in which bad actors can exploit it. Jaredfromsubway.eth’s $1.4 million sandwich attack on Meme coins, including WOJAK and PEPE, highlights the need for greater security measures to protect against such attacks. It is up to regulators and developers to work together to create more robust and safe solutions for DeFi traders and investors.

FAQ

What Is a Sandwich Attack in DeFi?

A sandwich attack is a DeFi front-running strategy that involves quickly buying and selling assets before and after a targeted transaction to make a profit.

How Does Jaredfromsubway.eth Work?

Jaredfromsubway.eth is a MEV robot that intercepts Ethereum transactions to execute sandwich attacks, taking advantage of short-term price fluctuations to make a profit.

What Are the Implications of the Sandwich Attack on Meme Coins?

The sandwich attack by jaredfromsubway.eth highlights the risks associated with DeFi front-running and the need for greater security measures to protect against such attacks. It also raises concerns about the fairness of DeFi and calls for more robust measures to curb malicious activities.