Express
Security Researcher: Coinbase loses $300,000 to MEV bots due to configuration error with 0x contract interaction
Summary: According to reports, Coinbase lost approximately $300,000 in token fees to MEV bots due to a configuration error in its interaction with 0xProject's 'swapper' contract. Security researcher from Venn Network and user 'X', deeberiroz, revealed on Wednesday that Coinbase's interaction with the decentralized peer-to-peer trading platform 0x's 'swapper' smart contract led to the unauthorized transfer ...
According to reports, Coinbase lost approximately $300,000 in token fees to MEV bots due to a configuration error in its interaction with 0xProject's 'swapper' contract. Security researcher from Venn Network and user 'X', deeberiroz, revealed on Wednesday that Coinbase's interaction with the decentralized peer-to-peer trading platform 0x's 'swapper' smart contract led to the unauthorized transfer of funds. The 'swapper' contract provided by 0xProject is used for token exchanges and is permissionless, allowing anyone to call it for various operations without restrictions. However, it was not designed for token authorization, as doing so could pose risks to funds. The researcher noted that this design flaw has caused known issues in the past, such as the incident involving Zora airdrop claims on the BaseLayer2 network.
Tags:
Link: Security Researcher: Coinbase loses $300,000 to MEV bots due to configuration error with 0x contract interaction [Copy]
