Trading bots preying on perceived flaws in Ethereum’s infrastructure have “extracted” at least $107 million in the past 30 days, according to new research. Popularly referred to as Miner Extracted Value (MEV), the arbitrage strategy pancakeswap sniper bot sees bots identify and target trades waiting in Ethereum mempools. To make money in the predetermined trade, the bots can use a few tried and true methods. To begin with, a bot can always count on a lucrative trade being present in the mempool. It will then raise the price of gas in its own transaction to reflect the increase. That way, a miner will package its copy trade before the original can go through. According to a Medium article published by the research group Flashbots, "after scraping the Ethereum blockchain starting from the first block of 2020 (9193266), we've found a total of at least $314M worth (540k ETH) of Extracted MEV since Jan 1st 2020." According to data compiled by Flashbots, this method has brought in at least $57 million (or 47,600 ETH) in January and $107 million over the past 30 days. As an illustration, this trade Flashbots points to repeatedly re-bids on a trade to conceal it from trading bots. The original trader was successful, but at the cost of the lurking bots wasting gas on a failed transaction and increasing congestion on the Ethereum blockchain. After this article was published, Alex Obadia from Flashbots told CoinDesk that correctly organizing the numbers is still difficult, calling it "more art than science." The value we showed was not obtained exclusively from mempool snipers, Obadia emphasized. It is not easy to tell if an arbitrage trade was seized by a sender who discovered it in the mempool or if the sender simply discovered the price inefficiency and terminated the trade. Website: https://www.dexsnipebot.com/ Contact: https://t.me/sniperbotdex