TechFlow reports, according to CoinDesk, that an arbitrage bot successfully borrowed $200 million worth of DAI from MakerDAO today. After deducting transaction fees, the bot made a profit of $3.24.
According to analysis by crypto data provider Arkham Intelligence, the bot exploited MakerDAO's "DssFlash" contract, which allows users to borrow any amount of DAI without paying fees.
To execute the arbitrage, the bot first borrowed 200 million DAI and supplied it to the Aave DAI market. It then borrowed $2,300 worth of WETH, used the WETH to purchase Threshold Network (T) on Curve, and finally executed large single-block trades to sell the tokens on Balancer.
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