请叫我 MaiK
请叫我 MaiK|Nov 01, 2026 03:46
After Binance was hacked for $5.8 billion, Titan became the biggest beneficiary by collecting tolls in one night. But how did the hackers, in their haste to exchange, overpay $119 million? How was the money made? Because the hackers were eager to exchange their potentially frozen stablecoins for non-freezing assets like ETH, large-scale exchanges would trigger massive slippage and arbitrage competition. Bots then frantically paid exorbitant tips to jump the queue. Even with numerous failed transactions, fees were still charged. That night, the bots paid $10 to the block builders. 251 ETH, compared to 4.6 ETH the previous night. Most of these tolls went to block builders and validators, with Titan accounting for about half of the block building share and connecting over 90% of validators. How was the overpayment of $119 million generated? 122,316 ETH were bought with 325 million USDT at an average price of $2,657, while the market price of ETH at the time was $2,284. This resulted in an overpayment of $45.7 million. Fifteen minutes later, another $25.8 million was overpaid by buying directly from the on-chain liquidity pool. Selling stolen UNI, PEPE, ENA, LINK, AAVE, etc., at a loss of $24.8 million, and then overpaying $22.4 million by buying TRX on Tron, totaling $119 million.
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