'Cryptographic performance art’ drains contract one block after launch
Lurking in Ethereum’s dark forest, hair-triggered MEV bots patiently lie in wait, each primed to pounce on all manner of prey before their competitors get a chance. Be it a juicy high-slippage swap to put in a sandwich or plundering an improperly secured contract, generalized searchers are on the hunt for one thing only—profit. Yesterday, just 12 seconds passed between the launch of a vulnerable token contract and the draining of the 5 ETH (approximately $12,000) contained within . Do not make mistakes when you deploy contracts! Backrun bots today can automatically hack any easy-to-hack contracts. Someone just lost 5ETH because of an access control issue – a backrun bot hacked it in less than 12s after deployment. pic.twitter.com/aypkZvRIRK — Chaofan Shou (@shoucccc) September 11, 2024 Read more: Aave hacked via periphery contract — $56K stolen from ‘tip jar’ The incident was spotted by Chaofan Shou, cofounder of crypto security Analysis tool Fuzzland, who describ...