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How to lose $2K in one click - DON'T USE RUBIC EXCHANGE!

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How to lose $2K in one click - DON'T USE RUBIC EXCHANGE!

A few days ago I got caught up in the Sphere hype and exchanged 4 ETH worth about $12K for Sphere using Rubic Exchange. This was a mistake and for more reasons than just not buying the dip.

MetaMask Transaction

I'm not sure what exactly happened but $2K just vanished at the exchange. Looking at the transactions, it looks like Rubic swapped my 4 ETH for 10,257 DAI which makes no sense, but that's what they did. By the time it got to the end of the transaction the math which should have looked something like this:

(4 ETH * $3021.76) - $27.11 ETH Gas - $.15 MATIC Fee = $12,044.93

instead looked like this

(4 ETH * $3021.76) - RUBIC does some shady shit = $10,205.55

Etherscan details

I have since been chatting with them. It's been 5 days. At one point they said "I've received an update that the remaining balance (2k$) has to be saved on your account." But never specified which account and then backtracked when it never showed up.

Confirmation

9 times over the course of 5 days I've been told it's being sent to their developers, but no one has coughed up the missing $2K

They even deleted messages.

Deleted message

Talk about shady. Not sure if this is a straight up scam or their tech is just bad, but STAY AWAY FROM RUBIC.

TLDR: I sent 4 ETH ($12K) to Rubic to buy Sphere and they stole/lost $2K of it and have been giving me the run around ever since.

Note: For the record, I didn't just go off and try some new service without testing it first. The day before I bought $1K of Sphere just to make sure the whole thing worked and it went through just fine.

Note: I just looked at Sphere again and now it seems the default exchange is no longer through RUBIC. Interesting.

Note: It seems pretty clear now that this was a MEV bot attack. Though I still hold that Rubic should have done more to protect me. The fact that they still haven't figured out what happened and have been "sending this transaction off to the developers" for almost a week now shows that internally they are not working on this issue.

submitted by /u/mritaki
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