How someone made a million dollars in 30 min on Uniswap.

How someone made a million dollars in 30 min on Uniswap.

By Cryptobreakfast1 | Yourfinadv | 15 Jul 2020


1. Wait for BZRX news for Uniswap listing.

2. Write a smart contract that buys token on Uniswap
3. Spam ETH network to others can't get in with failed txs

The block #10451767 is very interesting. As soon as the liquidity tx went thru the bot was able to get right after it to be the first one to buy BZRX.

In 2 minutes, he started to sell -
100,000 BZRX 218 ETH
100,000 BZRX 257 ETH
400,000 BZRX 741 ETH
200,000 BZRX 337 ETH
100,000 BZRX 193 ETH
100,000 BZRX 193 ETH
100,000 BZRX 195 ETH
100,000 BZRX 157 ETH
200,000 BZRX 234 ETH
100,000 BZRX 103 ETH
66,111 BZRX 52 ETHh

Total:
Deposit: 650 ETH
After sale: 2680 ETH + 300k BZRX
Profit: 2030 ETH + 300k BZRX

Trade Transactions
https://etherscan.io/token/0x56d811088235f11c8920698a204a5010a788f4b3?a=0x0ea72bf9aae7bb9e8eb97c965d443e38488cd546

Listing Transaction
https://etherscan.io/tx/0xd5cf62c1b41beb43ca1c7a05cf348300db0d7e1c8ac0d35041bbc45367811a5c

 

With that said is clear that ethereum need an important update. The first transactions to be mined shouldn't be the one with higher gas fee, but the first one sent to miners, or defi will face Big problems. A simple solution would be an automatic gas fee that increase or decrease based on the network usage.

 

Let's hope for mr. Vitalik to do something 👌🏻

 

 

 

How do you rate this article?

23



Yourfinadv
Yourfinadv

Economic degree in global markets, entrepreneur and investor with exposure to crypto related assets.

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.