TechFlow news, according to X platform user 0xBoboShanti, LENX, a BTC liquidity protocol backed by Frax Finance, saw MEV bots earn 230 ETH (worth $520,000) within 30 minutes of launch due to abnormal team decisions.
After raising 4,500 ETH in the Fjord Foundry sale, the team added 75 million $XD and 777 ETH into a SushiSwap v3 LP. Less than 30 minutes later, the team removed half of the Sushi LP and transferred liquidity to Uniswap. Since users had already created positions on Uniswap V3, the team couldn't proportionally add liquidity and instead abnormally injected 1.8 million $XD into the existing LP, causing extreme imbalance in the pool.
Within the same block, an MEV bot performed a flash swap of 217 ETH from the Uni v3 pool and exchanged 0.0000017 ETH for 1.8 million $XD, sending 61 ETH to the builder and profiting 156 ETH.
The team later again abnormally added 176 ETH and 100,000 $XD into the Uni v3 pool, allowing MEV bots to capture another hundreds of thousands of dollars in profit.
