Nomad bridge's hack cost this newly-$22M-funded protocol $190M. The SEC cracked hard on Forsage, the 4th biggest Ethereum dapp that reaped $300M. And W3BCloud is going public via SPAC.
Read our analysis on the arbitrages following the hack, and check out more from the tweet thread.
Security
Nomad Bridge was hacked, losing $190M.
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CEX
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Market
ETH has overtaken BTC in the options market for the first time on record.
The cumulative dollar value of ETH options contracts opened on dominant exchange Deribit was $5.7 billion, or 32% higher than $4.3 billion locked in open bitcoin options trades.
Investors are once again bullish on crypto, driving the biggest crypto inflows of the year.
The flows into cryptocurrency investment funds and related products in July marked a reversal from June, good for the strongest monthly inflows this year.
Last month’s $474 million inflows into crypto investment products represented the most money piled into such funds over the year to date
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L1
Quench Your Craving Around MEV in the Market
What were the top arbitrages of yesterday?
Which sandwich attacks made the biggest victim?
Which tokens and liquidity pools provide opportunities for searchers?
What’s the overall trend regarding MEV in the market?
To help you answer these questions, we have highlighted key takeaways about yesterday’s arbitrage and frontrunning in our Arbitrage Daily Report and Sandwich Arbitrages Daily Report.
Five successive 🥪 attacks in half an hour squeezed more than $17,141 from this active trader @thomasg_eth.
In one of the cases, when this 😢 tried to transfer some $RPL from the old pool to a new one and swap for $WETH, it was targeted by a "recidivist" who launched 134 🥪 attacks in the last 24hrs.
And look at this big 🥪, whose trading volume hit over $73M: The 😢 found an #arbitrage opportunity within the exchange rate of $USDC and $bb-a-USD and swapped some $USDC from 2,34M $bb-a-USD.
In yesterday's top 🥪, the 😢 wanted to buy some $WETH by $CQT but lost $29,889. The 😈 employed $4M worth of $USDC to cook the 🥪 with the help of a $USDC/$WETH LP. The 😈 squeezed $20,954, with $8,934 paid for miner tips and gas fee.
However, this transaction was detected by #MEV 🤖 and became the target of the 🥪. The 😈 made $8,341 with a cost of $950, using multiple tokens like $USDC, $DAI, $aUSDC, $WETH $aDAI, $aUSDC, and $aDA.
Yesterday was also a crazy day for #MEV arbitragers. After the $190M Nomad exploit, spatial #arbitrage dominated the profit leaderboard. Its profit rocketed 153 times, accounting for 87.5% of the overall profits. Triangular #arbitrage followed, with a nearly 20 times surge.
Though the Nomad Bridge hack attracted the most attention, the 🥪 attacks still maintained a 40% growth in trading volume, representing over 80% of the total. The 🥪 chefs were especially active at night. However, its profits decreased by 41%.
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