Ethereum validators earned about $29.5 million after Binance hack trades
BROBROK News · Based on reporting by CryptoSlate ·
Bitquery says the trading chaos around Binance's hack generated about $29.5 million for Ethereum block builders and validators. The attackers reportedly lost around $119 million by selling stolen assets at bad prices, while arbitrage bots competed for the price gaps they created.
Key points
- Bitquery estimated 10,251 ETH in tips to Ethereum builders during the window it studied.
- Validators received about 11,217 ETH over four and a half hours.
- Attackers rushed to swap stolen stablecoins and other assets into ETH and TRX before funds could be frozen.
- Buying pressure pushed the WETH/USDT pool on Uniswap as much as 38% above the broader market.
- Arbitrage firms and bots earned about $60 million after costs, while some strategies lost money to fees.
Why it matters
The report shows how security incidents can spill into onchain markets and generate large MEV-related payments for network participants. It also highlights the cost and competition involved in capturing short-lived trading opportunities.
Original headline: “Ethereum validators pocket $30 million windfall as Binance hackers lose $119 million in rushed trades”
Read the original on CryptoSlate
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.