University of Web3 | Master in Degen | Team @BitcoinFrogs | @ribbitsticker | built @btcFrogSalebot
Joined March 2023
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Breakdown of What Actually Happened (from public analyses and on-chain data shared on X)
The victim/user swapped ~$50.4M in wrapped USDT (aEthUSDT) for AAVE via the Aave interface → routed through CoW Protocol.
Due to insane slippage (liquidity on the path was nowhere near deep enough), they received only 324–331 AAVE ($36k–$37k at the time).
This created a huge price dislocation across DEX pools (primarily Uniswap/SushiSwap for the relevant pairs).
An MEV searcher/bot immediately spotted it and executed atomic backruns/arbitrage to correct the price:One major backrun involved reversing the direction (e.g., selling AAVE back to ETH/USDT to capture the mispricing).
Additional smaller arbs and related txs also profited.
Where the ~$50M "value" flowed
User received: ~$36k–$37k in AAVE → ~99.9% loss.
CoW Swap solver fee: ~$619k (normal protocol cut).
DEX fees + minor arbs: ~$3–4M scattered.
MEV bot profit: ~$10M–$12.5M net (after paying for inclusion).
Titan Builder received from the bot: 16,927 ETH
($34.8M at the time)
this was the block bid/tip the bot paid to get its bundle included.Titan forwarded 568 ETH ($1.2M) to the actual block proposer (a Lido validator).
Titan kept: ~$33.6M (builder's net take).
Total MEV extracted in that block: ~$44–$45M+ (almost the entire misplaced value, minus small protocol/DEX fees).
Why this shows maximizationIn MEV-Boost/PBS, builders like Titan compete by submitting the highest-bidding block to relays. The bot had to outbid everyone else to include its profitable bundle → it paid the absolute top dollar Titan could demand for that slot.
@titanbuilderxyz didn't leave money on the table they extracted ~73% of the total MEV value created by the mispriced order (builders typically take 60–80% in big MEV events, bots keep the rest after costs).
If the bot had paid less, another searcher could have outbid and taken the arb → so the payment was pushed to the economic maximum the opportunity supported.
Insane story...
Some guy tried to buy $50M of $AAVE on his phone, like 3% of the total supply, tapped through <INSANE SLIPPAGE AHEAD> warnings, ended up with only $40K of AAVE. Block builder made off with ~$40M, Aave refunds $600K of fees.
Net result, AAVE token is down. 💀
BitFrog009 比特蛙009 ⚡️ retweeted
The FBI is releasing information advising the Democratic People's Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange, Binance, on or about October 29, 2026. The FBI refers to this specific North Korean malicious cyber activity as "TraderTraitor."
The FBI, together with partners at the USSS and IRS-CI, has observed TraderTraitor actors converting stolen assets primarily into Ethereum (ETH). It is expected these assets will then be further laundered by converting them using DeFi and instant swap services as they prepare them for further laundering stages.
How You Can Help:
FBI, USSS, and IRS-CI are urging private sector entities including THORNode operators, RPC node operators, instant exchanges, DeFi services, blockchain analytics firms, and other virtual asset service providers to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.
A list of addresses associated with this activity is available here: fbi.gov/investigate/cyber/al…
ALT FBI public service announcement with Department of Justice seal in the background on a gold gradient.
BitFrog009 比特蛙009 ⚡️ retweeted
Polymarket is hacked
Intel -20%
Google -$500 billion
Binance is hacked
all in one day
BitFrog009 比特蛙009 ⚡️ retweeted
Excited to work with Payward to forge a path for onchain derivatives built on Hyperliquid's infrastructure. Kraken is one of the most trusted and respected exchanges in crypto. They are also true believers in the technology and crypto ethos. We're honored that they are building on Hyperliquid to bring the next evolution of perpetual markets to the United States.
Payward, the parent company of Kraken, announced its intention to be the first CFTC-regulated deployer on HIP-3* markets. Payward will use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US clients. Subject to regulatory approval, Bitnomial, Payward’s CFTC-regulated DCM and DCO, would act as the HIP-3* deployer: creating, owning, and administering the markets and clearing and settling the contracts. If approved, NinjaTrader Clearing, Payward’s CFTC-registered FCM, would carry client accounts.
HIP-3 will support optional deployer configuration for permissioned markets in a future network upgrade. This set of additional deployer functionality is collectively called HIP-3*. At its core, HIP-3* activation involves an onchain allowlist managed by the deployer or its sub-deployers. The functionality is strictly additive to HIP-3; its use is optional and up to the deployer. Existing markets remain unchanged. The initial release is available on testnet, where specifications are preliminary and subject to change based on feedback.
Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. HIP-3* gives deployers additional functionality to operate deployments consistent with the requirements applicable to them. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.
BitFrog009 比特蛙009 ⚡️ retweeted
I am okay with Kimi 3.1 deliberately leaving out top-end offensive cyber capabilities from their training data.
Discriminating against use cases is MUCH less bad than discriminating against users. And the world does need all the time it can get to prepare, harden, check old code, (properly) formally verify new code, etc before the full weight of very powerful cyber attacks is upon us.
And if this first big wave of AI risk is not handled well, then we may well get a dystopia of highly locked down models, KYC gating on everything, highly intrusive surveillance on everything, a society where you may be a second or third or fourth-class citizen in terms of model access based on your credentials and nationality.
BitFrog009 比特蛙009 ⚡️ retweeted
Arc Mainnet is live.
Arc launches as the Economic OS for the internet: an open platform for global markets, real-time value movement, tokenized assets, and agentic economic activity.
Arc is more than a blockchain.
It launches as a full-stack financial platform with assets, applications, interoperability, developer infrastructure, and Circle platform services live from day one.
Arc delivers USDC as native gas, deterministic sub-second finality, EVM compatibility, and institutional validators.
It integrates with Arc Studio, App Kits, Arc Portal, Circle Agent Stack, CCTP, Gateway, CPN, and StableFX.
A complete economic platform at genesis.
Arc launches with infrastructure for:
→ Agentic economic workflows
→ Lending and borrowing
→ Trading and liquidity
→ Onchain FX
→ Payments and settlement
→ Tokenized assets
→ Exchanges, wallets, custody, compliance, data, and developer tooling
190+ institutional and ecosystem builders are building across Arc.
BitFrog009 比特蛙009 ⚡️ retweeted
I've been thinking a lot about the regulatory considerations of vaults, so I put together this chart that has a high-level overview of how typical vaults are structured and the three core regulatory issues
Would be interested in feedback from the braintrust
🤖 Made with AI
BitFrog009 比特蛙009 ⚡️ retweeted
Huge!
The SEC just gave DeFi a broker exemption.
Uniswap UI, MetaMask Swap, DEX aggregators DON'T need to register as a broker-dealers.
DeFi apps just can't get paid for order flow, offer investment advice, or touch user funds - all fair.
Exactly the clarity we needed - the right approach.
I remember SBF telling us in 2022 they'd never allow DeFi apps to not be regulated as broker-dealers (and that only he could save us....by selling out DeFi to the U.S. gov).
Wrong again Sam.
And as for this Atkins/Pierce SEC....they just keep being awesome.
NEW 🚨: As part of Project Crypto, the Division of Trading and Markets issued a staff statement providing its views on broker-dealer registration requirements in connection with certain interfaces used to prepare transactions in crypto asset securities.
ow.ly/fiGs50YImGn
BitFrog009 比特蛙009 ⚡️ retweeted
Dear @PancakeSwap. Looks like you copied our code without asking. It is violation of its license. Not only it is illegal: historically it showed to be unwise for those who did it this way in other regards.
In any case. If you want to enjoy using stableswap without legal problems and to borrow some of our expertise to keep users SAFU - you still can contact us for licensing and collaboration.
BitFrog009 比特蛙009 ⚡️ retweeted
刚看了 Messari十万字年度报告
内容有点儿太干了
官方推荐阅读时长401分钟
也就是6.7个小时
相当于两部阿凡达3了
我干脆做个7分钟小视频
只关注Messari 报告重点的看这个就行
视频解释了2025年市场情绪为啥全面崩溃了
非常值得反复观看
BitFrog009 比特蛙009 ⚡️ retweeted
26 PREDICTIONS FOR 2026
From Bitcoin to DeFi, Layer 1 and Layer 2 blockchains, Artificial Intelligence, and much more
The Galaxy Research team is back with predictions for the year ahead (and also an assessment of our predictions last year) 👇
BitFrog009 比特蛙009 ⚡️ retweeted
The @BitcoinFrogs made it on stage at Bitcoin Amsterdam @BitcoinMagazine
Ordinals is the future. Am I the only one shilling Ordinals in the Youtube chat?
#ribbit
BitFrog009 比特蛙009 ⚡️ retweeted
Frog art on Bitcoin @BitcoinConfEUR
The @BitcoinFrogs made it on stage at Bitcoin Amsterdam @BitcoinMagazine
Ordinals is the future. Am I the only one shilling Ordinals in the Youtube chat?
#ribbit
