Recently, Ethereum transaction fees have risen due to congestion. Along with this rise, MEV (Maximal Extractable Value) bots are competing with each other to gain priority in transaction execution on the Ethereum network by tracking transactions and attempting to capture maximal extractable value before mining.
However, in recent days, MEV bots have become the target of an attack, with many bots falling victim to a $25 million heist. As a result of the attack, the bots’ total transaction volume and maximal extractable value were stolen.
According to experts, attackers heavily transacted on the network to prevent MEV bots from getting the correct transaction priority. As a result, the bots were given incorrect transaction priority and the attackers’ transactions were included in the blockchain by miners instead of valuable transactions.
In response to the attack, the Ethereum community has started to take a series of security measures. Ethereum miners are attempting to develop a protocol that ensures MEV bots get the correct transaction priority. With this protocol, MEV bots will be able to track transactions on the network more securely and accurately.
However, experts warn that MEV bots are vulnerable to attacks. Therefore, the Ethereum community needs to continue its efforts to create a more secure network structure.