Recently, I’ve been looking at security information related to Web3, and it seems that a quite sophisticated MEV bot scam is trending. Honestly, it’s pretty dangerous.

The mechanism of this scam is very calculated. In simple terms, they upload videos on YouTube or similar platforms titled “Automatically earning arbitrage profits with a bot,” and then get users to deploy smart contracts. At the initial stage, they require an investment of about 1.2 ETH.

This is where the scammer’s skill comes into play. They pre-fund malicious contracts so that when victims check their wallets, it appears as if “profits are being generated.” They display not only the initial investment but also fictitious profits, which quickly inflates desire and trust.

And when victims try to withdraw, that’s when the real scam happens. The withdrawal function looks accessible, but hidden within the code is malicious logic designed to send all assets to the scammer’s wallet. In other words, both the principal and the fake profits are stolen entirely.

To protect yourself from these MEV bot scams, there are several key points. First, claims like “automatically high returns” or “free arbitrage tools” are almost certainly scams. Never trust smart contract code provided from unofficial sources.

Before depositing funds, it’s crucial to thoroughly review the contract code. If you can’t audit it yourself, consult a security expert. Pay special attention to the logic behind the withdrawal function.

Also, before actually signing a transaction, it’s a good idea to use wallet simulation features, like those in MetaMask, to see what will happen after execution. If you find that funds are being sent to an unknown address, you should stop immediately.

Finally, don’t invest large sums all at once. Always start with a small amount for testing. If someone says, “A large investment is required to activate,” that’s a clear red flag.

The Web3 world is decentralized and open, so once malicious code is deployed, it remains forever. Scammers are constantly evolving their tactics, so it’s not enough to rely solely on technical measures. Always maintain a skeptical eye. Remember, there’s no such thing as earning free money in this space.