Incident Overview
The MEV bot operated by JaredFromSubway.eth was drained of approximately $7.5 million. Attackers deployed fake token wrappers and liquidity pools to trick the bot’s automated MEV execution system into granting token approvals to attacker-controlled contracts. They then exploited the unrevoked approvals to transfer out WETH, USDC, and USDT via transferFrom. It was not a traditional phishing attack or a vulnerability in the victim contracts themselves, but a flaw in the bot’s automated approval-generation mechanism. Jared publicly offered a $1 million bounty for full recovery with full confidentiality.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.