The latest report from the MEV tracking website EigenPhi pointed out that the MEV Bot with the pseudonym "jaredfromsubway.eth" seems to have abandoned the previous contract address and updated its attack strategy, and is expected to be able to perform more complex and profitable arbitrage attacks.

(Meme coins become a gold mine! MEV Bot "jaredfromsubway" becomes the largest gas spender in Ethereum)

What are MEV and sandwich attacks?

MEV (Maximum Extractable Value) refers to arbitrage strategies that gain profit advantages by manipulating the order of transactions, including "front-running" and "sandwich attacks".

Among them, the sandwich attack places a transaction before and after the victim's transaction to attack the user, manipulate the price and profit from it. Not only does this exploit harm individual users, it also wastes network resources and inefficiencies.

EigenPhi data shows that in the past month, sandwich attacks conducted through MEV Bot have made more than $1 million.

MEV is a controversial part of the blockchain, and various chains are seeking to curb this bad use of technology, including the Solana Foundation and Ethereum co-founder Vitalik Buterin, who have previously proposed to withdraw the authority to appoint validators. Subsidy, and launch anti-MEV protocols such as CowSwap to reduce MEV problems.

(Stealing 25 million magnesium in 12 seconds! Two brothers in the United States were arrested for overturning a MEV robot for the first time. Prosecutor: The integrity of Ethereum is questioned)

Is there any way to avoid it?

In order to avoid becoming a victim of the above attacks, Lianxin News has also compiled the following anti-MEV solutions:

  • CowSwap

  • Flashbots Protect

  • UniswapX

  • MetaMask smart trading function

Jaredfromsubway is back with a new recipe

EigenPhi pointed out that the contract address of MEV Bot "jaredfromsubway.eth", the largest sandwich attack on Ethereum, has reduced its attack activities since August 7 and ceased activities since the 14th.

Jared old address

However, the team also discovered another new MEV contract created by Jared, which is reported to have conducted over 85,000 transactions, paid approximately 765 ETH (approximately $2 million) in gas fees, and earned over $393,000.

Jared's new address. New sandwich with more layers and more victims.

At the same time, EigenPhi also discovered that Jared had secretly upgraded the robot to be able to perform a more complex, "five- to seven-layer" sandwich attack.

The team revealed that the bot executed more transactions in the same block as part of a sandwich attack, making its strategy more difficult to analyze and trace:

Jared 2.0 will place "Add Liquidity Transaction" in the front or center part of the attack, or both, and place "Remove Liquidity Transaction" in the back part.

It added, “This ensures that the bot gets better pricing, while the victim user completes the transaction at a worse price.”

EigenPhi pointed out that Jared 2.0 is frequently attacking and manipulating the exchange rate of the Uniswap V3 pool through this method, and expressed concerns about its more advanced strategies:

What we analyzed is just the tip of the iceberg. This permutation and combination is varied, capturing more victims by inserting multiple transactions before and after the attack.

This article "jaredfromsubway" serves new dishes! New MEV Bot attack strategy to attack multiple victims at once first appeared on Chain News ABMedia.