The world of cryptocurrencies is not without its fair share of risks and vulnerabilities. In the last 24 hours, several incidents have come to light, from exit scams to the misuse of flashbots by MEV bots and deceptive airdrops. In this blog post, we will delve deeper into these incidents and provide insights on the impact they may have on the crypto market.
1. Exit Scam on Corede Finance:
A startling exit scam on Corede Finance was discovered, with the wallet address 0x6fe397b88675beb98797e14eeaf84021e5c054c9. The value of ETH in this wallet dropped by 100%. Unfortunately, this resulted in the EOA (Externally Owned Account) with address 0x18500 profiting a significant 27 ETH, equivalent to approximately $43,900. Exit scams like these highlight the importance of thorough due diligence when investing in new projects.
2. MEV Bot Exploiting Flashbots via Curve.fi:
The remainder of the news centers around the usage of flashbots by a MEV (Miner Extractable Value) bot. In this specific incident, the bot incentivized a validator with a reward of 74.01 ETH (about $120,500) through the beaverbuild relay at block#18045576. The purpose behind this bribe was to backrun a large WETH-USDT swap on Curve.fi’s USDT/WBTC/WETH pool. The transaction in question can be viewed on Etherscan using the following link: [Link to Etherscan transaction].
3. Fake Airdrop Promotion by Beefy Finance:
Lastly, a warning is being circulated about a fake Beefy Finance X account that is promoting a deceptive airdrop. Users are advised not to interact with the hxxps://beefy.gifts/claim website promoted by this account. The site has been identified as a known wallet drainer, with the potential to steal funds from unwitting users. It is crucial to exercise caution and verify the authenticity of any airdrops or giveaways before participating.
The crypto market continues to be susceptible to various risks, ranging from exit scams and MEV bot exploitation to deceptive airdrops. As an investor or participant in the crypto space, it is essential to stay vigilant and conduct thorough research before engaging with new projects or platforms. Stay informed about the latest news and developments within the industry to protect your assets and make informed decisions.