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Tech·1d agoAI summary
Jaredfromsubway MEV Bot Loses $7.5 Million in Allowance Drain Attack
The Jaredfromsubway.eth MEV bot, responsible for 70% of Ethereum sandwich attacks, lost over $7.5 million due to an allowance drain. An attacker exploited the bot's automated system by creating imitation tokens and liquidity pools, tricking the bot into authorizing contracts to spend its real tokens, leading to the theft of WETH, USDC, and USDT.
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CryptoSlate