Security Researcher: Exchange Loses $300,000 to MEV Bot Due to Misconfiguration in 0x Contract Interaction
According to Jinse Finance, a certain exchange lost approximately $300,000 in token fees to MEV bots due to a misconfiguration when interacting with 0xProject’s “swapper” contract. Venn Network security researcher and “X” user deeberiroz disclosed on Wednesday that the exchange interacted with the “swapper” smart contract of 0x, a decentralized peer-to-peer trading platform, even though this contract was never intended for token approval operations. The “swapper” contract provided by 0xProject is designed for executing token swaps. It is permissionless, allowing anyone to call it for any operation without ownership restrictions. However, it is not designed to receive token approvals, as doing so could expose funds to risk. The researcher noted that this design has previously led to known issues, such as incidents involving Zora airdrop claims on the BaseLayer2 network.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ido Ben-Natan: Frequent on-chain security incidents, AI agents will increase risks
BTC rebounds and breaks through 83,000 USDT, with a 24-hour decrease of 1%
Why did the Reserve Bank of Australia raise interest rates two weeks ago? Meeting minutes reveal inflation risks have become a reality, and waiting would be too costly
The Reserve Bank of Australia acknowledges that the trade-off between inflation and full employment has worsened, but maintains that its goal is to return the Consumer Price Index (CPI) to the 2-3% target range.
Three-year remission rate up to 94%! Johnson & Johnson (JNJ.US) Tremfya Crohn's disease study shows positive long-term results
Long-term data from two Phase 3 clinical trials by Johnson & Johnson show that adult Crohn's disease patients treated with Tremfya (guselkumab) achieved a clinical remission rate of up to 94% over three years.
Crypto prices
More
