Ethical hacker intercepts $2.6M in Morpho Labs exploit
A white hat MEV operator front-ran a malicious transaction involving $2.6 million in crypto assets from the Morpho Blue protocol.
A known maximal extractable value (MEV) white hat actor intercepted about $2.6 million in crypto assets stolen from Morpho Labs’ decentralized finance (DeFi) protocol.
On April 10, Morpho Labs implemented a front-end update on its Morpho Blue application. A day later, a hacker breached an address through a vulnerability caused by the update. Blockchain security firm PeckShield reported that an address lost $2.6 million due to the vulnerability.
However, the security firm noted that “c0ffeebabe.eth,” a known white hat MEV operator, had front-run the transaction, effectively intercepting the stolen funds.
