Crypto Trading Bot is Racking Up Profits With ‘Sandwich’ Attacks

An anonymous trader linked to a digital wallet labeled “jaredfromsubway.eth” has become the talk of the decentralized finance world the last few days after racking up both big fees and profits through a strategy known as sandwich attacks.

The wallet for the so-called trading bot operator is a play on name of the disgraced former spokesman for the US restaurant chain. In the sandwich maneuver, a trader places on order for a token on a DeFi app. Before the order is executed, a bot can snap up that token on the exchange. That drives up the price of the token ...