King, a top arbitrage bot that made $7.2 million on Solana, was hacked this morning and had $786,000 drained.
Under normal circumstances, seasoned arbitrage traders think the game is all about on-chain algorithms and frontrunning speed. King had racked up roughly $7.2 million in profits—a seriously impressive track record.
But this morning’s hack exposed the shadowy connections behind the scenes. According to on-chain investigator monitoring cited by Wu Blockchain and Cointelegraph, a European institution may have lost $106 million from an exchange account. The hacker followed the trail of linked accounts and ended up draining about $786,000 from the arbitrage bot’s wallet as well.
So far, neither the affected arbitrage bot team nor the European institution has made an official statement confirming the incident. The losses are based on on-chain investigator monitoring and wallet labels.
But this method of following the trail is brutal. If an exchange account is linked to an on-chain execution wallet and the connection hasn’t been fully severed, even the most profitable bot is just an ATM to hackers.
If you’re a veteran running on-chain strategies, physically separate your execution wallet from all deposit and withdrawal accounts immediately. Don’t leave hackers a thread to pull.
Under normal circumstances, seasoned arbitrage traders think the game is all about on-chain algorithms and frontrunning speed. King had racked up roughly $7.2 million in profits—a seriously impressive track record.
But this morning’s hack exposed the shadowy connections behind the scenes. According to on-chain investigator monitoring cited by Wu Blockchain and Cointelegraph, a European institution may have lost $106 million from an exchange account. The hacker followed the trail of linked accounts and ended up draining about $786,000 from the arbitrage bot’s wallet as well.
So far, neither the affected arbitrage bot team nor the European institution has made an official statement confirming the incident. The losses are based on on-chain investigator monitoring and wallet labels.
But this method of following the trail is brutal. If an exchange account is linked to an on-chain execution wallet and the connection hasn’t been fully severed, even the most profitable bot is just an ATM to hackers.
If you’re a veteran running on-chain strategies, physically separate your execution wallet from all deposit and withdrawal accounts immediately. Don’t leave hackers a thread to pull.