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In the wake of an unfortunate incident on October 24, Maestrobots, a collective of cryptocurrency bots operating on the Telegram messaging platform, has taken action. They have initiated the process of reimbursing affected users who fell victim to a smart contract exploit, resulting in the loss of 280 ETH, equivalent to $1,793. The Maestrobots team promptly announced their decision to refund users impacted by the Maestro Router 2 contract breach via X (formerly known as Twitter) on October 25. In their public statement, Maestrobots disclosed their commitment to restore all user losses, amounting to 610 ETH, a sum exceeding one million dollars at the time of this message. “Every wallet that suffered losses in the router exploit has been made whole again. In some cases, users even saw an increase in their holdings,” Maestro reported. It is noteworthy that Maestrobots opted to refund some users in the form of affected tokens and ETH. To ensure a fair and comprehensive reimbu...

The world’s largest crypto is showing increased strength and trading activity during US market hours, according to recent data compiled by two industry firms. In the last week, bitcoin (BTC) has witnessed “staircase-like gains,” forming a pattern of rising prices during US market hours . That tends to stabilize by day’s end, according to research from digital assets brokerage K33. “US market hours are now the strongest market hours for BTC since the November bottom, after recovering from a challenging period between mid-Feb to mid-June,” K33 said in a research note last week. BTC has since climbed 62% year-to-date, 13% over the last 30 days and is up 1.5% on the week to $30,700. BTC remains fairly muted on the day — up 0.6%, data from Blockworks Research shows. The asset’s behavior during US hours contrasts with the relatively stable trading activity during the Asian and European sessions. Since last November, bitcoin has seen more significant gains of 30% during US hours co...

One community member praised the bot saying that "profit is profit" while another said that the event highlights how bad the bear market is. 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. This morning, $200M worth of DAI was minted and burned by MakerDAO in the same block. It was part of an arbitrage transaction with a net profit of... $3? Why did this happen - and what does this mean? Details below pic.twitter.com/wWLZeC8All — Arkham (@ArkhamIntel) June 14, 2023 The Analysis firm explained that the reason the the DAI amount borrowed was high is because MakerDAO's "DssFlash" contract allows zero-fee borrowing on any a...

NFT marketplace Blur surpassed OpenSea in daily ETH trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor. Major nonfungible token (NFT) Marketplace OpenSea announced a massive structuring around lower platform Fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base. On Feb. 18, NFT marketplace Blur surpassed OpenSea in daily Ethereum (ETH) trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor, shows Nansen data. Daily trading volume of major NFT marketplaces. Source: Nansen As a reactionary measure, OpenSea announced three major changes to win back its migrating customers. The measures include a 0% fee for a limited time, introducing optional creator earnings and leniency on other operators. We’re making some big changes today: 1) OpenSea fee → 0% for a limited...