According to PeckShield Alert data, an unknown Miner Extractable Value (MEV) bot has fallen victim to a hack, causing a loss of approximately $2 million.
The incident, which took place in the renowned curve pools, has led to multiple large swaps and subsequent reverse swap arbitrage.
Attacker Manipulates Curve Pool
The exploitation occurred when the arbitrage function, 0xf6ebebbb(), lacked proper authentication, providing an open door for the attacker to manipulate swaps across multiple curve pools. This malicious activity resulted in significant slippage, causing substantial losses for the affected parties.
#MEV An unknown MEV bot was exploited (with $2m loss) to make multiple large swaps in #curve pools, causing arb with simple reverse swaps.
https://t.co/POY91xvwC4 pic.twitter.com/vu1CaxSrdt
— PeckShieldAlert (@PeckShieldAlert) November 8, 2023
As the situation unfolded, the attacker cunningly reversed the swaps to maximize their profits, compounding the impact of this incident.
We współpracy z: https://cryptopotato.com/exploited-mev-bot-incurs-2m-loss-in-curve-pool-swaps-data/
