MEV Bot JaredFromSubway Attacked, Approximately $15 Million in Assets Stolen

CoinFeed June 21 news, MEV bot developer JaredFromSubway.eth posted that his MEV bot was hacked and drained of approximately $15 million in assets. He publicly offered a $1 million bounty for the full return of funds, promising complete confidentiality and secure return, emphasizing it is a legal and time-sensitive bounty, and called on the hacker to contact him privately. Security firm Blockaid stated that the attacker constructed fake token wrappers and liquidity pools, tricking the automated MEV execution system into granting token approvals to attacker-controlled contracts. Subsequently, the attacker exploited the unrevoked approvals to transfer out assets such as WETH, USDC, and USDT held by the bot.