Re:Cybercriminals who breached Nvidia issue one of the most ...
by eru on Saturday March 05, 2022 @12:18AM
(#30564533)
Interesting. How does running a mining operation help you front-run exchange trades?
Re:Cybercriminals who breached Nvidia issue one of the most ...
by paulmd on Monday March 07, 2022 @12:32PM
(#30590723)
standard front-running stuff. you can see the transactions that are in the mempool, you can either submit your own higher-fee transaction (likely to be included before theirs) or if you're a miner you can try to mine blocks with your transaction included and theirs specifically excluded so that yours goes first.
that essentially tells you that the price is about to go up or down, so you can make money on the movement.
https://cointelegraph.com/news/front-running-flash-bots-and-...
https://coinmarketcap.com/alexandria/glossary/miner-extracta...
(the most prominent example is stolen electricity, but also for many miners it's a form of cash laundering. You always get less money out than you put in, but it's clean cash. In China's case they can't get money past capital controls, but you can mine at a loss and sell the bitcoins in a jurisdiction of your choice, that's worth something to them. Also, many miners are front-running exchange trades or extracting other forms of economic value.)