MEV Bot Hacker Loses $505K on Terrible Ethereum Trades

Being good at hacking does not mean you are good at trading, as one anonymous crypto thief just learned the hard way. The unknown actor behind the major June exploit against the Ethereum maximal extractable value bot known as jaredfromsubway.eth has made a series of market moves that cost them a big chunk of their stolen funds.

Data shared by on chain analysts shows that the exploiter originally sold 2,327 Ethereum for about $1,700 shortly after running off with $7.7 million in stolen assets. Changing their mind about the asset, the same person recently bought back 2,063 Ethereum at an average price of $1,912 per token. This bad timing resulted in a realized loss of roughly $505,000, leaving the hacker with 264 fewer tokens than before.

To recap the timeline, the original attack happened in late June when the perpetrator tricked the automated sandwich bot using fake liquidity pools. The team behind the bot offered a bounty for the return of the funds, but the hacker ignored the warning and started funneling money through Tornado Cash instead. This latest botched trade confirms that the stolen funds remain in the hands of the exploiter, even if their trading skills leave much to be desired.