Most Active MEV Bot Named After Notorious Sex Offender Jared Fogle Spends Over 37,000 Ethers on Gas

Discover the most active MEV bot named after notorious sex offender Jared Fogle that has spent over 37,000 Ethers on gas. Learn about its impact on the Ethereum network and the implications for DEX trading. Explore the sophisticated algorithms behind this bot.

Posted 8 months ago in Blockchain

A graphic representation of a cryptocurrency bot spending large amounts of Ether on gas.

Pseudonymous cryptocurrency researcher Hildobby, data scientist at Dragonfly VC fund, has revealed the most generous gas spenders on the Ethereum (ETH) network. Topping the list is an MEV bot named Jared From Subway, which has spent over 37,000 Ethers (ETH) on gas, equivalent to more than $70 million. This wallet associated with maximal extractable value (MEV) bot by the name of jaredfromsubway.eth initiated 1.26 million on-chain transactions. It now holds the record for the largest Ethereum wallet in terms of gas spending.

The second position is occupied by a Binance-controlled wallet with over 7.73 million transactions, spending less than half of what Jared From Subway has spent. Additionally, the Ethereum gas price is currently at multi-month lows, with one Uniswap (UNI) exchange being charged approximately $4 in gas fees.

MEV bots play a significant role in DEX trading activity, accounting for 80% of Uniswap's (UNI) trading volume across all pairs. JaredFromSubway's MEV bot is particularly notable for its sophisticated algorithms, managing to have its transactions included in over 60% of Ethereum blocks. Since its emergence in February 2023, the bot has been spending over $1.1 million on gas daily, potentially affecting hundreds of thousands of DEX traders.

What sets JaredFromSubway's MEV bot apart is its namesake: Jared Scott Fogle, a former spokesperson for Subway. Fogle gained infamy for his involvement in child sex tourism and child pornography storage, leading to his arrest in 2015.

Last updated 9/10/2023, 3:11:57 PM


Related Articles

Related Questions

News Letter

Subscribe to the newsletter to stay updated with the latest cryptocurrency news, insightful articles, market trends, and more – delivered directly to your inbox!


Is email too old school? Well you can get your news directly on twitter just by following us