Ethereum MEV Bot JaredFromSubway Drained for $15 Million
- Attack Method Revealed: The attacker exploited fake contracts to trick JaredFromSubway's automated trading system into granting token approvals, resulting in an estimated $7.5 million drained, while Jared publicly claimed a loss of $15 million, highlighting vulnerabilities in token approval management.
- Funds Flow Analysis: The final transaction utilized open approvals to withdraw WETH, USDC, and USDT, with Etherscan showing transfers from 'jaredfromsubway: MEV Bot 2' to the attacker's wallet, underscoring risks in automated systems handling open market data.
- Market Impact Assessment: This incident has sparked widespread scrutiny over the token approval mechanisms in Ethereum's automated systems, revealing how systems designed for rapid trading can be steered into unsafe permissions, thereby affecting user protection and market trust.
- MEV Trading Controversy: As a well-known sandwich bot, JaredFromSubway had previously drawn attention for high Ethereum gas usage in 2023, and this incident intensifies discussions around MEV, sandwich trades, and user protection, potentially influencing future regulatory policies.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1441.166 | 1546.628 | 1638.616 | 1744.078 | 1836.066 | 1941.528 | 2033.516 |
| Fibonacci | 1546.628 | 1622.054 | 1668.652 | 1744.078 | 1819.504 | 1866.102 | 1941.528 |
About ETH
About the author
