Coinbase Loses $300K in MEV Exploit After Misstep With 0x Swapper Contract

Coinbase Loses $300K in MEV Exploit After Misstep With 0x Swapper Contract

The bots simply waited for a high-value wallet — like Coinbase’s fee receiver — to mistakenly grant spending rights to an exposed contract, then executed the drain instantly.

Coinbase Loses $300,000 in MEV Bot Attack After 0x Protocol Contract Error

The post Coinbase Loses $300,000 in MEV Bot Attack After 0x Protocol Contract Error appeared on BitcoinEthereumNews.com. Coinbase lost around $300,000 when an MEV bot swiftly drained funds due to a contract misconfiguration involving 0x Project’s switcher. No customer accounts or funds were affected. Coinbase classed the incident as isolated. A new security breach in decentralized finance highlights the risks of token approval protocols and MEV …

Coinbase concedes $300K loss to MEV bot attack due to 0xProject swapper oversight

Coinbase has lost $300,000 in accumulated fees to an MEV bot after interacting with the 0xProject swapper smart contract. Pseudonymous security researcher deebeez disclosed this on X, noting that the exchange used the swapper incorrectly. According to Deebeez, the 0xProject contract, which can be used for executing swaps, is permissionless. This means anyone can use it to execute any action without restrictions. Due to this reason, it is not sui…

Coinbase Loses $300K After 0x Contract Error Enables MEV Bot Drain | The New York Ledger

Coinbase has actually lost around $300,000 in token charges after wrongly authorizing possessions to a 0x Job clever agreement, permitting an optimum extractable worth (MEV) bot to drain pipes the funds. Deebeez, a security scientist at Venn Network, flagged the event in a Wednesday post on X. He discussed that Coinbase’s business wallet engaged with 0x’s “swapper” agreement, a permissionless tool created to perform swaps however not to get toke…