A maximal extractable value (MEV) sniping bot malfunctioned a few hours ago, resulting in the loss of more than $400,000 for users who sent funds to it.
Blockchain analytics firm Arkham Intelligence reported that several users of an Alpha group sent 160 ETH to the bot to snipe the launch of Poo Finance tokens.
MEV Bot Mishap
These users paid 80 ETH in bribes to gain priority access to be included in the first block transaction.
This means they committed 240 ETH, worth $440,000, to snipe the Poo Finance tokens.
MEV Bot Targeted Wrong Pool
However, the bot did not function as intended, sending the 160 ETH to the wrong Uniswap V3 pool. Arkham said the bot sent these funds after detecting an ‘add liquidity’ transaction from the developer.
While the Poo Finance developer added 40 ETH liquidity to the main pool, the buy transaction from the bot targeted a smaller pool with fewer…
