MEVbots backdoor drains Ethereum funds from users via arbitrage trading bot
An investigation into the MEVbots contract revealed a backdoor that allows the creators to empty Ether from its users' wallets.
New
MEV gain, an Ethereum (ETH) arbitrage trading bot built by MEVbots, which claims to provide stress-free passive income, has been actively draining funds from its users through a fund theft backdoor.
Arbitrage bots are programs that automate trading for profit based on historical market information. An investigation into the MEVbots contract revealed a backdoor that allows creators to empty Ether from its users' wallets.
Our analysis confirms that what the @mevbots promotes for the so-called "MEV gain" has a funds theft backdoor. Do *NOT* fall prey to it https://t.co/z2eDqMF36b. And thanks @monkwithchaos for the warning https://t.co/dhSNGljoH0 pic.twitter.com/HWfCAwbae4
— PeckShield Inc. (@peckshield) September 23, 2022The scam was first reported by Crypto Twitter's @monkwithchaos and later confirmed by blockchain investigator Peckshield.
Suspicious account @chemzyeth promoting services MEV. Source: Google cacheFollowing the revelation, leading MEV promoter @chemzyeth disappeared from the internet.
@chemzyeth's Twitter account has been deleted after the call from the community. Source: TwitterPeckshield further confirmed that at least six users fell victim to the backdoor attack.
Transaction of stolen funds from MEV fund gain - steal the backdoor. Source: Peckshield
An investigation into the MEVbots contract revealed a backdoor that allows the creators to empty Ether from its users' wallets.
New
MEV gain, an Ethereum (ETH) arbitrage trading bot built by MEVbots, which claims to provide stress-free passive income, has been actively draining funds from its users through a fund theft backdoor.
Arbitrage bots are programs that automate trading for profit based on historical market information. An investigation into the MEVbots contract revealed a backdoor that allows creators to empty Ether from its users' wallets.
Our analysis confirms that what the @mevbots promotes for the so-called "MEV gain" has a funds theft backdoor. Do *NOT* fall prey to it https://t.co/z2eDqMF36b. And thanks @monkwithchaos for the warning https://t.co/dhSNGljoH0 pic.twitter.com/HWfCAwbae4
— PeckShield Inc. (@peckshield) September 23, 2022The scam was first reported by Crypto Twitter's @monkwithchaos and later confirmed by blockchain investigator Peckshield.
Suspicious account @chemzyeth promoting services MEV. Source: Google cacheFollowing the revelation, leading MEV promoter @chemzyeth disappeared from the internet.
@chemzyeth's Twitter account has been deleted after the call from the community. Source: TwitterPeckshield further confirmed that at least six users fell victim to the backdoor attack.
Transaction of stolen funds from MEV fund gain - steal the backdoor. Source: PeckshieldWhat's Your Reaction?
