This Bot on Solana Made More than $30 Million in a Few Months

One of the leading bots in the Solana ecosystem has earned tens of millions of dollars in just a few months.

The maximum extractable value (MEV) sandwich boat is also known as “arsc”.

MEV sandwich attack is a type of attack where the attacker manipulates the price by sandwiching the victim's transaction between two of his own transactions and makes a profit from the user. The attacker buys the victim's token at a price lower than its market value and makes a profit by selling it on the same block.

Ben Coverston, founder of the cryptocurrency company MRGN Research, stated that this special sandwich bot, known as “arsc”, makes great efforts to avoid attracting attention while making profits from users on the Solana network.

Bot's wallets and assets

One of the bot's largest wallet addresses, “9973h…zyWp6,” is used as a cold wallet, according to Coverston. “This wallet is fairly passive and judging by its behavior, it is almost certainly a locked cold wallet,” Coverston said.

According to Solana explorer site SolanaFM, this wallet holds just over $19 million in total funds, with $17 million of those funds being Solana (SOL) tokens. Additionally, this wallet holds $1.1 million in Circle's USD Coin (USDC) stablecoin and small amounts of wrapped-SOL (wSOL), Cringe Coin (CRINGE), and Kabosu (KAB).

Another main wallet address, “Ai4zq…VXKKT,” is much more active in decentralized finance (DeFi) activities, according to Coverston. This wallet is slowly converting SOL to USDC via JUP DCA and holds significant positions in Kamino and various LSTs.

According to SolanaFM, this wallet holds over $9.9 million in funds consisting mostly of non-SOL tokens.