Sandwich bot #Solana made over $30 million through arbitrage #MEV .
The bot uses multiple wallets, one of which serves as cold storage for $16.5 million.
The bot's dominance caused Solana's #DEX volume to temporarily increase by 15%, but its activity has since declined.
The famous Solana sandwich bot, known by the wallet name "arsc4jbD", has reportedly earned over $30 million through maximum extractable value (MEV) arbitrage over the past two months. The bot's activities have attracted significant attention due to its significant profits and complex operations in the Solana ecosystem.
According to research by online analyst Ben, the bot's profits are mainly distributed between two main wallets. The first wallet, “9973…yWp6,” currently contains approximately $16.5 million in SOL, equivalent to 114,000 SOL tokens. This wallet appears to be relatively inactive, suggesting that it is functioning as cold storage or a locked reserve.
Meanwhile, another wallet associated with the bot, “Ai4z… xkkt,” remains very active in the Solana DeFi environment. This wallet is gradually converting SOL tokens into stablecoin #USDC through the exchange's dollar cost averaging service #Jupiter $JUP It is reported to have a prominent position in Camino and several Liquid Staking Tokens (LST).
In addition, Ben highlighted the bot's attempts to hide its activities and income, indicating aversion to the growing attention. Consequently, the bot moved its main operations to the BCbrp wallet, which now serves as the main "$SOL bank" for its sandwich operations. In addition, the bot uses many signers and informants to further disguise its transactions.
Reacting to revelation
Further to the analysis, Andrew Ilemi, Director of Dune Analytics, noted the significant impact the bot had on Solana's DEX volume. He noted that as of late April and early May, this single bot accounted for approximately 15% of all DEX creation volume on Solana. However, by mid-May its activity had dropped sharply to around 0.5%.
