The arrest of the Pepaire-Bueno brothers in Boston yesterday brings the progress in cryptocurrency regulation into focus. The two brothers used a bug in the FlashBot relay system to frontrun MEV bots and managed to drain $25.38 million worth of assets from bots in only 8 transactions, 12 seconds. The preparation took months, based on their discovery of a bug in the FlashBots relay system.
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2024 DOJ tackles wire-fraud and market…
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The arrest of the Pepaire-Bueno brothers in Boston yesterday brings the progress in cryptocurrency regulation into focus. The two brothers used a bug in the FlashBot relay system to frontrun MEV bots and managed to drain $25.38 million worth of assets from bots in only 8 transactions, 12 seconds. The preparation took months, based on their discovery of a bug in the FlashBots relay system.