1 mo
"I'm kicking my ass! Do you mind?" โ Jim Carrey, Liar Liar (1997) ๐จ Crypto Money Launderers Are Kicking Their Own Ass ๐จ In a bizarre twist on market manipulation, crypto criminals are pretending to be bad traders, and it's helping them launder stolen funds. According to security researchers at Hacken and Cyvers, hackers are using bots to attack their own trades in a scheme that mimics typical blockchain arbitrage strategies like MEV (Maximal Extractable Value). Here's how it works: ๐ธ They create a trading pool with stablecoins (like USDC & USDT) ๐ Make a deliberately terrible trade โ losing tens of thousands ๐ค Their own bot scoops up the arbitrage "profit"...
Blockchain
Crypto
Web3