Bitcoin.com recently reported on the exploitation of MEV (Maximal Extractable Value) bots on the Ethereum network, resulting in $25.3 million in cryptocurrency losses. The incident was reportedly caused by a rogue validator on the Ethereum network who used a MEV bot to manipulate transactions and steal funds.

MEV bots are used to extract the highest possible value from transactions on the blockchain. While they can be used for legitimate purposes, such as optimizing gas fees and reducing network congestion, they can also be used maliciously to exploit vulnerabilities in the system.

In this case, the rogue validator reportedly used a MEV bot to manipulate transactions and reorder them in a way that allowed them to take advantage of a vulnerability in the system. This resulted in the theft of $25.3 million in cryptocurrency from various decentralized finance (DeFi) platforms.

(by Jamie Redman)