11.04.2025 15:20
$2.6 million worth of crypto assets, which were attempted to be stolen using a vulnerability in Morpho Labs' decentralized finance protocol, were prevented and secured by an ethical MEV operator named c0ffeebabe.eth.
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The DeFi protocol of Morpho Labs was attacked due to an unexpected security vulnerability. A malicious hacker attempted to seize $2.6 million worth of crypto assets, but a white-hat MEV operator intervened. The responsible team quickly detected the vulnerability to prevent potential losses.
$2.6 Million Worth of Digital Assets Secured
Experts close to the industry indicated that a vulnerability allowing the attack emerged following a front-end update made to Morpho Labs' protocol. Seizing the opportunity, a malicious hacker aimed to transfer $2.6 million worth of crypto assets to their own account. However, a white-hat MEV operator, maintaining their anonymity, intervened in the seized funds using a front-running method, and the assets were removed from the attacker's control.
The team managing the infrastructure announced that they reverted the update that caused the vulnerability, restoring the system to its previous state. Team members stated that the platform returned to normal operation with the cancellation of the code changes that led to the issue, emphasizing that users did not need to take any additional action. While no clear information was shared regarding the current status of the funds, experts once again highlighted the critical role of white hats in the crypto ecosystem.
Industry representatives reminded that white-hat actors have secured lost funds in similar past incidents, stating that DeFi projects must always keep their security measures up to date. The Morpho Labs team announced that they would soon publish a comprehensive report regarding the incident.
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