How cryptocurrency bots managed to earn more than $ 2 million in Ethereum

Researchers at Dune Analytics found that cryptocurrency bots managed to make $ 2.1 million in ethereum on the decentralized social media platform Friend.tech.

The Fakery identified 125 bots that were «hunting» for shares of Friend. tech contributors, which had recently been purchased in the «key». The bots bought digital assets of platform users and sold them at a higher price after a while.

The most successful bot generated $ 576,060 in revenue for its developer by making 96 key sales and purchases. The bot was getting rid of the acquired assets in an average of 17 minutes.

A false report on the leak of Friend. tech users' data revealed the bot’s scheme. They used social media APIs to find out information about the crypto accounts owned by Twitter users.

The software then monitored the activity of accounts with a large number of followers and bought their keys immediately after release. There is a great demand for cryptocurrency assets, so they quickly rise in price, and bots make money by speculating.

It is worth noting that a well-known cryptocurrency analyst Miles Deutscher advised users to pay attention to Friend. Tech. The analyst noted that Friend. Tech has become popular in the crypto space and already has an impact on the market situation. On some exchanges, you can trade an index token that tracks the performance of this project. Friend. Tech is a decentralized social networking platform integrated into X (formerly Twitter) that allows tokenizing members' profiles.