Don’t try to outsmart largest Ethereum (ETH) DEX with free instructions from YouTube tutorials
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Anonymous developer of Lens Protocol and co-founder of the Chainstride Capital VC fund debunked a scam YouTube campaign focused on users trying to benefit from Ethereum’s Maximal Extractable Value (MEV).
Why trying to earn “$1,000/day on Uniswap” through YouTube manuals is bad idea
In his recent Twitter thread, engineer and investor @_apedev, who is an expert in MEV strategies, warns his followers about a new scam spinning on YouTube.
Just came across an evolution of an old YouTube scam that was quite interesting. It’s netted the creator over $30,000 in just over 24 hours.
A thread on how it works & the new innovations in this particular version of it:
(1/n) pic.twitter.com/UG2bOtb0tg
— Ape Dev (@_apedev) August 6, 2022
In the video mentioned by @_apedev, a tutorial demonstrates how to create an MEV bot — an automated instrument that acts as a type of arbitrage trading tool to benefit from MEV.
This “bot” can allegedly help its owner earn over $1,000 by simply “sniping” Uniswap’s (UNI) orders. As explained by the author, this software actually drains wallets and sends money to scammers’ addresses.
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By press time, the video in question is still active on YouTube. In two weeks, the video has gotten…
