June 14 (Cointime) - an arbitrage bot utilized MakerDAO's 'DssFlash' contract to borrow $200 million worth of DAI stablecoin without incurring fees. The bot then used the DAI to borrow $2,300 worth of wrapped ether (WETH) and purchased Threshold Network (T) on Curve before selling it on Balancer. Although the bot made a profit of $33, it incurred almost $30 in transaction and protocol fees, leaving a net profit of $3.24. Flash loans have been used for nefarious purposes in the past, resulting in significant losses on DeFi platforms.