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Head First DeFi: TX & Strategies
  • Decoding the DNA of DeFi Transactions & Strategies
    • From Arbitrage, Sandwich to JIT and Oracle Manipulation
    • Be Prepared To Explore the DeFi World
    • Case Study Format
  • MEV Transaction & Strategy 101
    • A $3.2 Million Profit Arbitrage, the Most Lucrative MEV of 2022
    • Understand Back-Run Arbitrages and Their Signals and Join the MEV Game.
    • Wallchain's MEV Arbitrage Redistribution
    • MEV Blocker, the multi-transaction MEV redistribution system that refunds 90% of builder rewards
    • With NFT arbitrage, someone was snipping your Baby Doge.
    • The Hidden Tax That You Should Know About
    • MEV-Share, Flashbots' MEV Redistribution Solution
  • Don't Let Your Trading Become the Recipe of Someone's Sandwich
    • The Notorious Jaredfromsubway.eth's Sandwich Attack
    • Combined with Flash Loan, This Leveraged Sandwich Launched the Attack with Millions of Volumes
    • Sandwich Targeting Liquidity Providers
    • The Flash-Loan-Enabled Sandwich Attack against Ethereum Foundation
  • Under the Hood of the DeFi Lego
    • What's Really Going on When Processing Liquidity in a Uniswap Pool?
      • Pretend You Are One of the Shareholders of a Bank Branch.
      • Let's Match the Bank Branch to a Uniswap Pool.
      • Adding Liquidity.
      • Removing Liquidity.
      • Conclusion
    • Liquidation: A Good Entry Point to Comprehend Internal Accounting Used by Many DeFi Protocols.
    • A Cross-Chain Arbitrage: The Art of Arbitraging BANANA Cross BSC and Polygon Chains
    • Liquidity Rebalancing: Moving Around $9.4 Million for More Fee Revenues.
    • Rebalancing loan positions utilizing AAVE Flash loan
    • How Does the Grok Token Exploiter Exploit the X Token By Baking His Own Cake And Eating it?
  • Unlocking the Power of Advanced DeFi Transactions and Becoming a DeFi Sleuth
    • Just-in-Time, an MEV Type That Benefits Traders in the Same Trading Venue
    • A Bot Devised Arbitrage Strategies Centered on Autonomous Minting and Burning of Synthetic Tokens
    • The Defect in a Lending Protocol's Oracle Module Was Exploited by a Bot to Generate a $110K Profit
    • A $296K-Profit Arbitrage Done by the Lightning Reflex Bot After the Vyper-Curve Exploit
    • Coffeebabe.eth Utilized Curve's CRV/WETH Pool's Price Deviation for a $5.4 Million Profit Arbitrage.
    • An Attacker Baited MEV Arbitrage Bots and Emptied Their Wallets
    • How Enso Solves 73.5ETH in 116 Steps in One Transaction
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On this page
  • Strategy One Liner
  • Big Picture
  • Key Steps
  • Key Protocols
  • Key Addresses
  • Key Assets
  • Simplified Illustration
  • Step-by-step Decoding
  • More Details
  • Keywords

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  1. Unlocking the Power of Advanced DeFi Transactions and Becoming a DeFi Sleuth

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

PreviousThe Defect in a Lending Protocol's Oracle Module Was Exploited by a Bot to Generate a $110K ProfitNextCoffeebabe.eth Utilized Curve's CRV/WETH Pool's Price Deviation for a $5.4 Million Profit Arbitrage.

Last updated 1 year ago

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Strategy One Liner

The 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

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

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

Keywords

Vyper Exploit, Arbitrage

Analysis of historical transactions from this bot's address shows it was an experienced arbitrageur regularly transacting across Curve, Uniswap, and SushiSwap. See for more details.

The Lightning Reflex Bot
Vyper exploits
Transaction Flow Chart | EigenTx:0x5d78ab204e9de219f237a46c537e4b0c5cebd0132c50406e2973878e77d5bf88EigenPhi
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