Reading time: ~2 m
The attacker was offered a reward of 1% of the stolen funds for returning the remaining amount within 24 hours
The hacking of the arbitration bot (MEV-bot) resulted in the loss of 1.1 thousand ETH (about $1.45 million), cybersecurity company PeckShield reported on Twitter (the social network is blocked in Russia). An analysis of the transaction showed that the attackers used a code vulnerability to substitute an arbitrary address for transferring funds.
MEV bots (also called flash bots) search for transactions suitable for arbitrage trading. The use of such programs allows you to profit from the difference in prices on different exchanges.
The funds stolen in the attack on the bot called 0xbad belonged to many of its users. According to PeckShield, the community has announced that it is ready to consider the hack as the work of a “white hat hacker” if the funds are returned before the end of the day on September 28, minus 1% of the stolen money. Otherwise, an investigation will be initiated.
Usually, if a hacker is recognized as a “white hat hacker”, companies leave him 10% of the funds withdrawn by him as a reward. So, last week, the market maker Wintermute offered the hacker $16 million in USDC for the return of the rest of the stolen $160 million.
#Arbitrage #Bot #Hacked #Lost #Million