• Ben.ETH, a prominent crypto influencer, was in the hot seat again after a token with links to them lost over $100K to a bot attack.
• This event follows other dubious crypto projects linked to Ben ETH, raising questions about their credibility and viability of their advised projects.
• An MEV Bot exploited the situation by acquiring its DAVE from one pool and draining PSYOP from another pool, leading to the loss of over $100K in WETH (Wrapped Ether).
Ben.ETH Linked Token Drained of $100K
An anonymous developers launched the meme coin DAVE with Ben.ETH serving as advisor on Friday June 2nd. However, just minutes after launch suspected hackers drained the token for over $100K through an MEV Bot exploit.
Suspicion Around Ben.ETH Projects
This event has raised more red flags around past projects associated with Ben.ETH such as $BEN, $PSYOP and $LOYAL which ended in notorious ‘rug pulls’ leaving investors with worthless tokens while the influencer allegedly profited – casting doubt on their credibility and viability of their advised projects.
How The Exploit Occurred
The deployers of DAVE created two pools; one for buying DAVE with ETH where the price was essentially 0 and another pool to trade between DAVE and PSYOP where the price of DAVE was not zero. An MEV bot exploited this opportunity by getting its DAVE from the first pool and draining PSYOP from the second pool – allowing it to extract over $100K in WETH from both pools for just over $10 spent.
Consequences Of The Attack
The attack on DAVE has led many participants in the crypto space to question Ben ETH’s credibility due to his association with several dubious projects which have all ended up costing investors money while he allegedly profited off them all – further damaging his reputation within the industry .
The snipe-and-dump attack on DAVE is yet another questionable episode in regards to crypto influencers like Ben ETH who are associated with various well-publicized scams or rug pulls throughout recent years – leaving many investors feeling burned while they seemingly benefit financially themselves at everyone else’s expense.