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SirWin
SirWin
SirWin

MEV bot consumes 7% of ETH gas while sandwiching traders

mev-bot-consumes-7-of-eth-gas-while-sandwiching-traders
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MEV bot consumes 7% of ETH gas while sandwiching traders

Complaints surge as reports indicate that an MEV bot has been sandwiching traders while consuming large amounts of ETH gas.

In the past few days, Twitter users have criticized the MEV bot jaredfromsubway.eth for sandwiching traders and contributing to ETH gas increases. On April 19, @matt_willemsen tweeted, “Wondering why gas is so damn high?”

https://twitter.com/matt_willemsen/status/1648506054538579968?t=SBytlEU_y-K3_3y89IGnwQ&s=19

In this tweet,  @matt_willemsen insinuated that the gas charges associated with the ethereum network are currently on a speedy rise because of the MEV bot. Some reports indicate that the MEV bot was responsible for over 7% of ethereum gas charges in 24 hours.

MEV bot consumes 7% of ETH gas while sandwiching traders - 1

ETH gas spenders | Source: Dune

This MEV bot used 455 ETH in 24 hours between April 18 and 19, representing around 7% of all the gas used on Ethereum. This is based on the data from Dune analytics.

MEV bot consumes 7% of ETH gas while sandwiching traders - 2

Gas usage, Jared vs. everyone | Source: Dune

Based on reports, this MEV bot has spent about 3720 ETH ($950k) in the past two months while performing about 180k transactions. On April 17, the bot made a profit of about $250k. The number surged to about $950k on April 18. By very early April 19, the bot was already in a profit of $400k.

MEV bot sandwich attacks

A user called Beetlejuice has been tracking data associated with the MEV bot for days. On April 15, Beetlejuice complained that Jared stole their lunch money. Later, on April 19 continued to contribute to the story of how the bot is stealing from investors. 

Some worried crypto users wanted to know what tokens to avoid. For instance, Porygon-z.eth @Bertrand1201 asked if it’s possible to know the percentage of holding the MEV bot has on a particular token. 

However,  @SeaLaunch_ responded, noting that Jared is attacking multiple contracts. @SeaLaunch_ later tweeted that anyone trading NEET, PEPE, and APED, among other tokens, should use an MEV blocker to avoid a sandwich attack.

Earlier today,crypto,news reported that ETH MEV bots profited $1 million through sandwich attacks. Reports indicate that MEV bots have made $100 million since last weekend.