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Binance User Loses $47,000 in KOGE/USDT Pair Due to MEV Attack

A user suffered a $47,000 loss trading KOGE/USDT, emphasizing the importance of MEV protection to safeguard against market manipulation.

Summary

A user lost $47,000 while trading KOGE/USDT after executing a $210,000 trade with nearly 50% slippage and without MEV protection. The user received only $161,000 worth of KOGE due to market manipulation by an MEV bot, which affected multiple liquidity pools, including PancakeSwap. Following the loss, the user added KOGE tokens to the ZKJ-KOGE liquidity pool to earn fees.

Terms & Concepts
  • MEV (Miner Extractable Value): The profit that miners can make through their ability to include, exclude, or reorder transactions in a block.
  • KOGE: A cryptocurrency token traded on various exchanges, including Binance.
  • USDT: Tether, a stablecoin pegged to the US dollar, commonly used in cryptocurrency trading.