An arbitrage bot trading on the Ethereum (ETH) network used a $200 million flash loan to make a profit of just $3.24.
An arbitrage bot 200 million dollar loan after pulling and doing many operations just $3.24 profit achieved remarkable. By Arkham Intelligence, on-chain analytics platform shared In a social media post, details about the transactions were included.
Arkham says that the bot that performs Ethereum-based transactions “DssFlashprimarily through the contract From MakerDAO (MKR) DAI in stablecoins 200 million dollars He stated that he took a flash loan. This contract 500 million dollars over any amount of DAI with a debt ceiling at zero cost Allows borrowing. The debt in question in the same block if he pays back a loss on credit does not occur.
Then, continuing its transactions, the bot uses these assets as a decentralized finance (DeFi) protocol. to aave (AAVE) conveyed and Wrapped Ether (WETH) in terms of $2,350 borrowed it. The resulting WETH is another DeFi protocol. on Curve (CRV) Used to buy Threshold Network (T).
Finally he has Threshold Networkdecentralized exchange (DEX) on Balancer selling arbitrage bot 33 dollars profit achieved. However, in this process transaction costs only by rasping the gain significantly $3.24 dropped it.
Arkham’s operations manager Zachary Lerangiseven if the net profit of these automated bots is small any transaction that results in profit stated that it will.