Crypto trader gets sandwich attacked in stablecoin swap, loses $215K
A crypto trader fell victim to a sandwich attack on March 12, losing over $215,000, and one industry pundit suspects they may have been attacked another five times on the same day.
A crypto trader fell victim to a sandwich attack while making a $220,764 stablecoin transfer on March 12 — losing almost 98% of its value to a Maximum Extractable Value (MEV) bot.
$220,764 worth of the USD Coin (USDC) stablecoin was swapped to $5,271 of Tether (USDT) in eight seconds as the MEV bot successfully front-ran the transaction, banking over $215,500.
Data from Ethereum block explorer shows the MEV attack occurred on decentralized exchange Uniswap v3’s USDC-USDT liquidity pool, where $19.8 million worth of value is locked.
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