MEV Bot Exploit Hacker Loses $505K on Dubious Ethereum Trades

The hacker behind the June MEV bot exploit continues to make questionable trading decisions, incurring losses of around $505,000.

In the aftermath of the $7.7 million attack on the Ethereum maximal extractable value (MEV) bot jaredfromsubway.eth, the perpetrator used some of the proceeds to buy and sell ETH.

According to data from Lookonchain, the exploiter sold 2,327 ETH at prices just under $1,700 after the hack. However, they changed their mind on Ethereum and started to accumulate earlier today, purchasing 2,063 ETH at an average price of $1,912 per token.

This decision resulted in a loss for the perpetrator, as they received $3.94 million for the sale following the hack but now spent the same amount just to receive 264 fewer tokens.