Phishing Attacker Steals $500,000, MEV Bot Snatches $370,000 for Just $0.03

A user on the Base chain lost 500,000 USDC due to a phishing attack. The attacker failed to set slippage protection when exchanging for WETH, resulting in only 67.9 ETH (worth $129,000) being obtained for the 500,000 USDC. Of this, $370,000 was seized by an MEV bot, which paid just 0.03 USDC to front-run the transaction, with a gas fee of 3.5 ETH. The victim sent an on-chain message to both the attacker and the MEV address, stating that they have identified the attacker and are willing to pay a 10% bounty for a refund.

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