MRGN Research’s Ben Coverston says the Solana-based MEV bot has made an active effort to date to keep a low profile.
The infamous maximal extractible value (MEV) sandwich bot known as “arsc” has pocketed around $30 million from Solana users in the last two months through MEV attacks.
An MEV sandwich attack occurs when an attacker “sandwiches” a victim’s transaction between their own two transactions in order to manipulate the price and profit from the user. They profit by buying the victim’s token at a price cheaper than market value and then sell it in the same block.
Ben Coverston, founder of cryptocurrency firm MRGN Research, said in a June 15 post on X that this particular sandwich bot, known as “arsc,” has “gone to great lengths” to avoid attention while raking in profits from Solana network users.