- The Ethereum Foundation recently transferred 1,700 ETH to decentralized exchange Uniswap.
- The swap has led to a fall of 3% in Ethereum’s price, which is currently being traded at $1,592.
- Ethereum co-founder also transferred 1,000 ETH to Bitstamp a few days ago.
Crypto analytics platform Arkham Intelligence’s data revealed that the wallet address “0x9eE457023bB3De16D51A003a247BaEaD7fce313D,” belonging to the Ethereum Foundation, swapped 1,700 ETH for 2.738 million USDC on the Uniswap decentralized exchange. However, earlier today, an MEV Bot attacked the Foundation during the transaction, resulting in a significant loss.
The crypto monitoring platform EigenPhi reported that during the transfer, the Foundation encountered a Sandwich attack from MEV Bot, resulting in a loss of $9,101. After accounting for expenses, the MEV Bot managed to secure a profit of $4,060.
At the time of writing, Ethereum is changing hands at $1,592, as per data from CoinMarketCap. Nevertheless, the transaction, made at a rate of $1,611 per Ethereum coin, pushed Ethereum’s price to drop by 1.45%. Moreover, ETH witnessed a nearly 3% decline, moving from $1,636 down to the $1,591 ra…
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