Lost over $700,000 due to the actions of a MEV bot
An unknown liquidity provider lost over $700,000 due to the actions of a MEV bot. According to Arkham Intelligence, it created a WBTC-CRV liquidity pool on Uniswap v3 and erroneously set the rate for CRV at $1.
It then added liquidity in the form of WBTC to the tune of $1.56 million.
The transaction attracted the attention of MEV bots, which redeemed the offer in 12 seconds. The bot paid the validator $527,000 for the transaction, and its premium in doing so amounted to about $260.
Thus the user received 1.56 million CRVs, which in turn was $850,000 at the time.
