Ah, the Bitget Wallet, that noble guardian of our digital treasures, has decided to don a shiny new armor against the dastardly MEV bots. Yes, dear reader, it has expanded its multi-chain MEV protection, enabling it by default across major blockchains, as if to say, “Fear not, for we shall protect you from the villainous bots lurking in the shadows!” 🦸♂️
In a press release that could rival the most dramatic of soap operas, Bitget Wallet has revealed its latest security upgrade. This upgrade integrates Maximal Extractable Value Protection—MEV protection, for those who prefer brevity—directly into the platform’s Swap feature. Users can now check if this security feature is activated by simply looking for the “MEV” logo on the Swap page or within the transaction signature page. It’s like a badge of honor, but for your crypto! 🏅
The MEV Protection upgrade is designed to thwart those unfair trading mechanisms that MEV bots so love to employ. It casts its protective net across multiple chains, including Ethereum (ETH), Base (BASE), BNB Chain (BNB), Polygon (MATIC), Arbitrum (ARB), Solana (SOL), and other major blockchains. Bitget Wallet aims to eliminate vulnerabilities related to MEV bot activity, as if it were a knight slaying dragons in a fairy tale. 🐉
Historically, these MEV bots have targeted liquidity pools, manipulating crypto asset prices with the finesse of a circus performer, spreading false market sentiments among traders. But fear not! Bitget Wallet claims its system can block these false price fluctuations, ensuring users receive accurate and fair market prices. It’s like a magic trick, but without the rabbit! 🎩
Moreover, MEV bots have a penchant for gas fee inflation during high-demand trades. But worry not, for Bitget Wallet’s latest upgrade predicts reasonable gas fee ranges, thus preventing those artificial bidding wars that make one’s wallet weep. Users can now trade without the fear of excessive transaction costs, ensuring trade stability. It’s like a spa day for your finances! 💆♂️
Alvin Kan, the COO of Bitget Wallet, has grand plans to continuously improve the platform by introducing more security features in the future and expanding its services to include more blockchain networks. “As MEV threats evolve, strengthening protection mechanisms remains essential for ensuring a stable and reliable trading environment,” he declared, sounding like a wise sage from a distant land. 🧙♂️
How disastrous are MEV bot attacks?
MEV bots, those crafty little devils, are deployed on the blockchain to sniff out opportunities for profit and execute trades at a pace that would make a cheetah blush. 🐆
In recent months, crypto traders have reported major losses due to undetected MEV manipulation, emphasizing the importance of preventive measures to ensure market fairness. On March 12, a crypto trader lost over $215,000 while executing a stablecoin transfer due to an MEV bot sandwich attack. Yes, you heard that right—a sandwich attack! And not the delicious kind, mind you. According to data from Etherscan, this culinary disaster occurred on Uniswap (UNI) v3’s USDC (USDC) -USDT (USDT) liquidity pool, which had more than $35 million worth of stablecoins stored in it. 🥪
Is anyone safe using DeFi?
A user on @Uniswap v3 was just sandwiched attacked out of $216k while simply trying to swap $221k USDC to USDT.
Mind you, this was a pool that had over $35m of USDC and USDT in it.
This is insane.
How did it happen?
An MEV bot front-ran the tx by…
— Michael Nadeau | The DeFi Report (@JustDeauIt) March 12, 2025
Michael Nadeau, the founder of The DeFi Report, explained that the bot front-ran the transaction and temporarily removed all the USDC liquidity from the pool before the user’s transaction was executed. As a result of the drained liquidity, the user received a worse exchange rate, resulting in a $216,000 loss. Ouch! That’s like stepping on a Lego in the dark! 🦶
Not only that, but the bot operator even paid $200,000 to a block builder named bobTheBuilder to ensure the attack
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2025-03-17 15:21