Crypto trading bot borrows $200M for a $3 gain

A crypto trading bot programmed to perform arbitrage trades made various complex moves within the Ethereum blockchain, including taking a $200 million flash loan, all to secure a mere $3.24 profit.

On June 14, blockchain analysis firm Arkham Intelligence shared a breakdown of the bot’s movements. According to the firm, the transaction was made by an arbitrage bot that uses flash loans.It was part of an arbitrage transaction with a net profit of... $3?

The analysis firm ArkhamIntel explained that the reason the Dai amount borrowed was high is that MakerDAO’s “DssFlash” contract allows zero-fee borrowing on any amount of DAI, with a limit of $500 million.

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