Andrew T

Andrew T

12-04-2022

22:28

HOW TO FIND & TRACK FRONT-RUNNERS, a ๐Ÿงต Earlier today, itinerant podcaster and part-time gumshoe @cobie uncovered an address that'd successfully frontrun and profited from Coinbase's shitcoin announcement Here's an easy way anyone can find similar addys

For context, Coinbase listings are generally accompanied by a wave of retail interest in the listed assets In a possible effort to reduce listing price spikes & associated foul play, Coinbase is now publishing longer lists of assets "under consideration"

The first such list was published yesterday evening EST. Warning: reading through this list may cause sepsis. As many have pointed out, it's borderline irresponsible to bring some of this low-volume trash to the wider public

But nonetheless they announced a lot of low liquidity junk under consideration, the junk pumped, and a handful of wallets that are either very clever or are trading on insider information made a good bit of money Here's $BOTTO jumping 10% post-announcement

So, how do you find who's in-the-know and profiting? I did it by hand using Nansen, no analytical wizardry required This method is easiest with an asset that's not on many centralized exchanges ensuring data will be on-chain, is generally low volume, and would be odd to trade

$BOTTO fits the bill. It's a governance token for a neat AI-generated NFT art project where holders get to train the bot and influence the appearance of the generated art Smol volume, not on any major exchanges, and only crunchy art NFT nerds should be buying

On Nansen's Token God Mode we can see a wave of buys leading up to the announcement Using the "Wallet pair profiler" for the Uniswap pool, I went through each one to see if it was a frequent BOTTO user/trader or a suspiciously well-timed buy This Elite DEX Trader stood out

He'd never bought Botto before, and if we look at his trading history, he also bought nearly 20 of the assets Coinbase had under consideration... just an hour before the announcement One? Maybe they're lucky. Twenty? That's a smoking gun

As @bax1337 pointed out, they're not necessarily trading on insider information. The listings might have been leaked via some API or a blog draft somehow. It's functionally irrelevant to me if they're clever or an insider, however: I now have them on a watchlist either way!

In the case of the wallet Cobie found, you can use the same process as well (this is looking for recent RADAR trades -- the one he flagged is easy to spot in Token God Mode among suspiciously well-timed illiquid shitcoin buys)

Note that you can do this for just about any kind of announcement Shouts to @ElBarto_Crypto for frontrunning the 3AC $RAIDER announcement with a sharp on-chain eye here Retroactively checking who bought when is a great way to identify high value wallets



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