In a surprising turn of events, someone accidentally sent over $1.5 million worth of wrapped Bitcoin (WBTC) and wrapped Ethereum (WETH) to jaredfromsubway.eth, a high frequency, Maximal Extractable Value (MEV) bot that has been harassing traders on the Ethereum network.

Jaredfromsubway.eth MEV Bot Wreaking Havoc On Ethereum 

The signal about the $1.5 million funds erroneously transferred to the MEV bot was brought to light by 0xCuteSocks on Twitter.

someone accidently sending 1.5 mil dollar worth wbtc and weth to jaredfromsubway.eth

you can’t make this shid up pic.twitter.com/q0dxrXXQjF

— 0xCuteSocks (@0xCuteSocks) May 5, 2023

While the bot has been blamed for sandwiching traders and contributing to the rise in ETH gas fees, it has also reportedly consumed over 7% of the gas fees in the last 24 hours.

According to Dune analytics data, the MEV bot used 455 ETH between April 18 and 19, which represents around 7% of all the gas used on Ethereum during that time.

Moreover, reports suggest that the bot has spent about 3,720 ETH or $950,000 in the past two months while performing roughly 180,000 transactions.

A MEV bot is eating your lunch.

jaredfromsubway.eth MEV bot is the top gas ETH spender in the last 24H, spending 455ETH ($950k) and using 7% of total gas of the network

In the last 2 months it spent more than 3.720ETH ($7M) in gas fees and performed more than 180k transactions pic.twitter.com/IGMJY7skkq

— sealaunch.xyz (@SeaLaunch_) April 18, 2023

On April 17, the bot made a profit of about $250,000, which surged to about $400,000 two days later on April 19.

The MEV bot, which has been causing havoc for traders on the Ethereum network, is also responsible for draining millions from investors.

MEV bots on Ethereum today captured $1.035 million in profits in 11,640 transactions, a record high over the past month, including $940,000 in profits through sandwich attacks. The MEV robot controlled by jaredfromsubway.eth captured a profit of more than $710,000 after capturing…

— Wu Blockchain (@WuBlockchain) April 19, 2023

This has been a source of concern for traders, most of whom are worried about which tokens to avoid.

Some have even been calling for an MEV blocker to avoid a sandwich attack, especially for meme tokens such as NEET, PEPE, and APED, among others.

Funds Refunded

While the MEV bot has been racking in huge profits, the deployer had a change of heart following the erroneous transfer of $1.5 million.

A Twitter user was able to verify that the $1.5 million worth of tokens were successfully refunded after the sender appealed to the owner of the MEV bot.

#PeckShieldAlert Jaredfromsubway.eth has returned $1.5M worth of $WBTC, $WETH and $USDC to 0x19aBe4…090, who accidentally sent funds to the MEV bothttps://t.co/MQLwKx5sV2https://t.co/MJbIoMrzMf pic.twitter.com/VehaSWfkqD

— PeckShieldAlert (@PeckShieldAlert) May 6, 2023

Still, the rise of MEV bots has become a significant issue in the crypto space, with some experts warning that the bots could threaten the security of the entire blockchain ecosystem.

While some bots operate in a legitimate capacity, others are designed to exploit vulnerabilities in the system to make a profit, even at the expense of someone’s error.

As the popularity of MEV bots continues to grow, traders need to be aware of the risks and take the necessary precautions to protect themselves from potential attacks.

It is so because there is no guarantee of a refund considering the immutable nature of crypto transfers.

As such, traders are advised to protect themselves from potential attacks by using an MEV blocker and avoiding vulnerable tokens.

Feature Image From Canva, Chart From TradingView

Lucky Block (LBLOCK) has been surging today. Although most coins in the market are posting some gains, LBLOCK is on another level. But could this signal a sustained bullish run that will take the coin to $0.1? It remains to be seen, and here are some facts to keep in mind:

• Surging to $0.1 will mean Lucky Block (LBLOCK) will grow nearly 100x.

• It’s the second day in a row the coin has posted double-digit gains.

• At the time of writing, it was trading at $0.0048, up around 20%.

Data Source: Tradingview 

Lucky Block (LBLOCK) – is $0.1 a bridge too far?

Well, Lucky Block (LBLOCK) is a coin that has a lot of potentials. But for it to hit $0.1, it will need to deliver gains of almost 100x. This is not unprecedented in crypto, but there are many barriers right now. 

The key thing to note though is that Lucky Block (LBLOCK) has actually not been listed in any of the major exchanges out there. This gives it huge upside potential. Typically, coins can explode in value once they start to enter the main exchange platforms.

Lucky Block (LBLOCK) is also undervalued. It has a market cap of around $140 million, but it could be bigger. The road to $0.1 is not impossible. But it will take a bit longer. This is because conditions in the market right now are not that good.

Is Lucky Block (LBLOCK) a good asset?

Lucky Block (LBLOCK) is trying to build a global lottery using the power of blockchain technology. It’s an innovative concept that could open the door for more betting-related services. 

Based on that alone, it looks like a decent buy. Besides, the project has been attracting a lot of capital and backing from investors. It’s only a matter of time before it becomes huge in the crypto market.

Post Views: 70

2022 has been a less than ideal start for the world of cryptocurrency. There have been a number of sustained dips, and despite a rally this week, the market remains down from the start of the year. The total market cap for all of cryptocurrency is $1.71 trillion, down 42% on its November 2021 high when it hovered around the $3 trillion mark.

Millions of crypto investors are viewing this as an opportunity to ‘buy the dip’. Conversely, it is also widely believed that now could be the best time to release a new cryptocurrency. Two emerging projects that are already making headlines are Lucky Block (LBN) and Seesaw Protocol (SSW).

Shiba Inu (SHIB) Paved the Way

Shiba Inu (SHIB) was one of the most popular meme coins of 2021. It rose to prominence on the back of the success of Dogecoin (DOGE), having been mentioned by Tesla CEO and DOGE advocate Elon Musk. It reached an all-time high of $0.00008845 in October 2021, an astonishing rise of over 74,000,000% from the beginning of 2021. Even in the midst of a historically successful year for crypto, SHIB broke records.

Developed by the anonymous creator known only as Riyoshi, it is potentially unlikely that the meteoritic success of Shiba Inu (SHIB) will be replicated. However, there is still almost unlimited room for growth in crypto. Economists from PricewaterhouseCoopers expect blockchain technologies to boost global GDP by around $1.76 trillion over the next 8 years.

Enter Lucky Block (LBN) and Seesaw Protocol (SSW)

Savvy investors are constantly on the lookout for promising new crypto projects. Two of the most notable are Lucky Block (LBN) and Seesaw Protocol (SSW). LBN is an innovative coin that has the potential to achieve great success in an already multi-billion dollar market.

Lucky Block seeks to create a safer space for online gaming. LBN is hosted on the Binance Smart Chain and is in essence a lottery platform. Its creators hope it will improve on traditional lotteries by making theirs fairer and more accessible. The fact that it is available to anyone worldwide also make the prizes bigger and more frequent.

Its presale sold out faster than anticipated, hitting the hard cap of 11200 BNB ahead of schedule. This has facilitated the launch of Lucky Block moving up to the 26th of January. Its Telegram group has over 19,000 members, which is creating a buzz ahead of release.

Seesaw Protocol (SSW)

The Seesaw Protocol (SSW) presale has begun and is already being talked about as one that could see huge success for what is a potentially revolutionary project. SSW will allow its users to conduct cross-chain swaps between blockchains. It will launch on the Binance Smart Chain and quickly expand to the Polygon and Ethereum Networks, providing a truly multi-chain bridge.

Seesaw Protocol already has over 20,000 members on its Telegram; a huge amount for a presale stage. The SSW presale offers benefits to its investors, including a 7% bonus in the first month, followed by 5% and 3% bonuses in the second and third months respectively.

It is indisputable that entering a project early is often a surefire way to yield massive rewards from an investment. With its game-changing utility and its vocal community, Seesaw Protocol could well be on track to emulate the gigantic success of the likes of Shiba Inu (SHIB).

Enter Presale: https://presale.seesawprotocol.io/register

Website: https://seesawprotocol.io/

Telegram: https://t.me/SEESAWPROTOCOL

Twitter: https://twitter.com/SEESAWPROTOCOL

Instagram: https://www.instagram.com/seesaw.protocol