HomeUncategorizedMEVbots backdoor drains users’ Ethereum funds via arbitrage trading bot By Cointelegraph

MEVbots backdoor drains users’ Ethereum funds via arbitrage trading bot By Cointelegraph

September 25, 2022

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MEVbots backdoor drains users’ Ethereum funds via arbitrage trading bot

MEV gain, an arbitrage trading bot built by MEVbots, which claims to provide stress-free passive income, has been actively draining its users’ funds via a fund-stealing backdoor.

Arbitrage bots are programs that automate trading for profits based on historical market information. An investigation of MEVbots’ contract revealed a backdoor that allows the creators to drain Ether (ETH) from its users’ wallets.

Suspect account @chemzyeth promoting MEV services. Source: Google (NASDAQ:) cache
chemzyeth’s Twitter (NYSE:) account deleted after community callout. Source: Twitter
Transaction of stolen funds from MEV gain’s fund-stealing backdoor. Source: Peckshield