A trader earned $500,000 on cryptocurrency in half an hour

By Danyakot | a whole day of positivity | 15 Jul 2020

An unknown person attacked the Ethereum network to be the first to buy tokens during the initial placement on the exchange, and then sold them at an inflated price to other, late users

An unknown trader earned almost $500 thousand in cryptocurrency in half an hour. This happened during the token sale of the bzrx coin, held on the decentralized exchange UniSwap, running on the Ethereum blockchain.

the user has prepared for the cryptocurrency listing in advance. He wrote a program for buying tokens during the initial placement on UniSwap and activated it immediately after the opening of trading. At the same time, a trader made a spam attack on the Ethereum network. Because of this, other customers site could not participate in tokencache and purchase the coin.

As a result of these actions, the trader was able to become the first to buy bzrx tokens. He invested 650 ETH, receiving in return 1 966 111 BZRX. Two minutes after that, the unknown person started selling assets at an inflated price, earning a total of 2780 ETH. The size of the profit amounted to 2 030 ETH or about $500 thousand At the moment, the organizer of the scheme still has about $50 thousand in bzrx tokens on the balance.

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