FirmaBKS

FirmaBKS

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This is for everyone who wanted to learn about arbitrage...

I'll start with the fact that in July, multichain skyrocketed to 120M (link to posts about the multichain scam). After this, all the stablecoins on Phantom started gradually dwindling.

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Zeroing of Holders

Background:​

It was a late evening. I had just finished my second bottle of wine and was ready to get to work. The stablecoins had dropped enough for the arbitrage spread to be 50%+, so I started looking for opportunities to make money for wine and a sunny winter in Dubai. After 20 minutes of searching among all the exchanges, I found a vulnerable link - the casinos that were used to receive money from gamblers on all possible networks, including Phantom.

The first one I got my hands on was the Betfury casino.

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As you can see, there's a deposit option.
After a test deposit of a whole $4 and a successful withdrawal from the casino, I created five accounts for myself and mercilessly emptied the pockets of those fools (Hello Mellstroy).

The casino required a 1x rollover of the deposited amount, which was easily achieved in dice and plinko. Withdrawals were done manually, which led to the idea of a sybil attack on the casino.

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The first large withdrawal was canceled. It seemed like the casino had figured out the sybil account attack, but no, they needed identity verification (you had to enter any name and any address; the verification was at the level of a coinlist check).

In the end, after 5 hours, the casino realized that something was not going according to plan. They blocked withdrawals from my accounts, and my money was gone... But no, these idiots turned out to be surprisingly lenient, and after 8 hours, they allowed me to withdraw everything in Phantom.

Casino wallet that received Phantom deposits https://ftmscan.com/address/0x52a258ed593c793251a89bfd36cae158ee9fc4f8#tokentxns

Wallet from which all the smarts withdrew money https://bscscan.com/address/0x52a258ed593c793251a89bfd36cae158ee9fc4f8

In total, the casino was looted of 25k, which should be enough for sushi and girls.

Act Two:​

The second genius casino, bc.game, which I discovered the next day, decided to open deposits in Phantom USDC (after the arbitration with Betfury, we checked all the casinos and the deposits were closed). The moment they opened these deposits is well-tracked in the graph below.

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Here, I also used the sybil attack technique to avoid waiting for withdrawals from each account and to take on the fools without a cooldown.

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Casino wallet where all deposits were received https://ftmscan.com/tokentxns?a=0x49c31587287bd04bf30b76a5a3bcc42b588039e4

In this case, it was also necessary to play through the deposit in almost foolproof games to avoid the withdrawal being blocked for "money laundering." After that, all withdrawals were instant.

1a780d4a-e3e0-432f-ad7e-fd49af8c0d5e.png

The casino wallet from which I withdrew 45k [/URL]https://etherscan.io/address/0x0d6db9f046b4e4c8723a125b7c7c5e2f768b4403#tokentxns

Results:​

The casinos were personally let down by me for 70k, so all gamblers can rest easy. Karma was cleansed because many people who lost money in the stablecoin debacle were able to get their money back.

Conclusion:​

If you drink as much as I do (2-3 bottles of wine a day), it will open up chakras for unconventional thinking. But seriously, the crypto sphere is quite risky. Something is always scamming, something is always being hacked, and opportunities can be found even in a bear market. I hope this article was interesting to you. Experienced crypto enthusiasts can take away something new in their approach to arbitrage. Newbies should gain experience by reading such stories. The main thing is to survive until the next bull run. Cheers!

That's it for me! If you liked the material, please share it with friends or on social media. Best of luck! ❤️
 

$oprano

$oprano

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very interesting article, I think I'll try to do this
 
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