# A $296K-Profit Arbitrage Done by the Lightning Reflex Bot After the Vyper-Curve Exploit

### Strategy One Liner

The [Vyper exploits](https://eigenphi.substack.com/p/mev-battlefield-triggered-by-vyper-exploit) released massive arbitrage opportunities. **The Lightning Reflex Bot** captured the first arbitrage opportunity after the attack, earning **$296K** profit after paying 50% of the revenue to the builder.

### Big Picture

{% embed url="<https://eigenphi.io/mev/eigentx/0x5d78ab204e9de219f237a46c537e4b0c5cebd0132c50406e2973878e77d5bf88>" %}

<figure><img src="https://2783121027-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F6mxU4QYtlg9O3vnppqQm%2Fuploads%2FeM7LDJo8OMMIqCCoK8JZ%2Fimage.png?alt=media&#x26;token=a3298c7d-8811-433c-aa00-cea7a43efdb6" alt=""><figcaption></figcaption></figure>

### Key Steps

* Step 0: The arbitrager flash loaned 78.8 ETH from Balancer.
* Steps 3,4: The arbitrager exchanged 78.8 ETH for 1,115 pETH at Curve.fi Pool (pETH-ETH-f).
* Steps 5,6: The arbitrager exchanged 1,115 pETH for 1,764,156,755 JPEG at Vyper contract.
* Steps 7,8: The arbitrager exchanged 1,764,156,755 JPEGs back to WETH. Up to here, the gross profit was 315 ETH.
* Step 9: The arbitrager repaid the flash loan.
* Step 12: The arbitrager paid 50% of his profit as the builder fee.
* Step 13: The arbitrager transferred the revenue, 157 ETH, to his own address.

### Key Protocols

* Curve.fi: Curve.fi is a decentralized exchange (DEX) optimized for efficient stablecoin trading.
* Vyper: Vyper is a contract-oriented, pythonic programming language. It aims to simplify the process of writing smart contracts.
* SushiSwap: A major DEX.
* Balancer: Another DEX.

### Key Addresses

* The oval "to" is the arbitrager's contract address.
* The ovals "Balancer Vault", "pETH-ETH-f", "Vyper contract" and "SushiSwapPool" are the corresponding pool address.
* The solid blue oval "WETH" is the WETH contract address. It can swap ETH (the native currency on the Ethereum chain) to WETH (an ERC20 token) with a 1:1 ratio and vice versa.
* The pentagon "builder" is the builder's address. The arbitrager paid the builder fees to make sure his transaction appeared and appeared at a given place on the chain.
* The pentagon "leaf" is the arbitrager's wallet address.

### Key Assets

ETH, WETH, pETH, JPEG

### Simplified Illustration

<figure><img src="https://2783121027-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F6mxU4QYtlg9O3vnppqQm%2Fuploads%2FMPaAp5UFrdmLyKAhFCy7%2Fimage.png?alt=media&#x26;token=35a62c06-be1e-41f0-baa5-151e1e64c0db" alt=""><figcaption></figcaption></figure>

### Step-by-step Decoding

* Step 0: The arbitrager flash loaned 78.8 ETH from Balancer.
* Step 1,2: Exchanged 78.8 WETH for equal ETH.
* Steps 3,4: The arbitrager exchanged 78.8 ETH for 1,115 pETH at Curve.fi Pool (pETH-ETH-f).
* Steps 5,6: The arbitrager exchanged 1,115 pETH for 1,764,156,755 JPEG at Vyper contract.
* Steps 7,8: The arbitrager exchanged 1,764,156,755 JPEGs back to WETH. Up until now, the gross profit was 315 ETH.
* Step 9: The arbitrager repaid the flash loan.
* Step 10,11: Exchanged 315.5 ETH for equal WETH.
* Step 12: The arbitrager paid 50% of his profit as the builder fee.
* Step 13: The arbitrager transferred the revenue, 157 ETH, to his own address.

### More Details

Analysis of historical transactions from this bot's address shows it was an experienced arbitrageur regularly transacting across Curve, Uniswap, and SushiSwap. See [The Lightning Reflex Bot](https://eigenphi.substack.com/p/mev-battlefield-triggered-by-vyper-exploit#%C2%A7bot-the-lightning-reflex-bot) for more details.

### Keywords

Vyper Exploit, Arbitrage<br>