In a recent development, a substantial Ether reward of 689 tokens, valued at $1.28 million, has been distributed from a single MEV-boost relay block on the Ethereum Beacon Chain, marking one of the most significant rewards in recent history.
Read CRYPTONEWSLAND onThe lucrative payout was granted to Lido, an Ethereum liquid staking solution, from block number 17007842 on the Beacon Chain. The block was finalized on April 9 and consisted of 47 transactions. It was constructed by beaverbuild.org, as per the transaction data.
This reward comes close to Lido’s previous high of 691 Ether, recorded on March 20. The substantial sum has captured the attention of Martin Köppelmann, the co-founder and CEO of Gnosis, an Ethereum-based infrastructure platform. Köppelmann has recommended that Ethereum users employ a service like MEV Blocker to safeguard their transactions from potential exploitation.
MEV Blocker reports that MEV bots have managed to extract over $1.38 billion from Ethereum users engaged in trading, providing liquidity, and minting nonfungible tokens (NFTs). These centralized MEV-boost relays are capable of extracting value by consolidating blocks from numerous builders to choose the one offering the highest fees.
The controversy surrounding this significant reward has ignited a debate within the crypto community about the ethical implications and potential solutions to this ongoing issue.
In other news, a group comprised of FTX and its creditors has released its initial report on the infamous collapse of the exchange in November 2022 and the events leading up to it.
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