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



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