Coinbase lose $300K to MEV Bot; Ethereum Dev hit by Drainer
Coinbase mistakenly okra token allowances to 0x permissionless swapper. One MEV bot wey dey hide use dis wrong configuration jaga about $300,000 for AMP, MYOP, DEXT and SWELL fees. Coinbase CSO Philip Martin talk say no customer money waka enter wahala. All allowances don cancel and the remaining money dem carry go new corporate wallet.
Shortly after, one Ethereum core developer become victim of malicious VS Code extension. The rogue Cursor AI plugin read im .env file, comot im private key and carry some hundreds dollars ETH comot for im hot wallet. This wallet drainer attack show how malware dey grow threat for development tools.
These tins show say crypto security still get gbege. Traders suppose dey check token approvals, check extensions well well, use hardware wallets plus keep key storage separate to prevent MEV bot attacks and wallet drainer malware.
Neutral
For short term, di loss of $300K for token fees and small ETH loss dey show security palava but e no too fit make price dey waka up and down well well. The tokens wey e affect get small market share, and no customer money loss for Coinbase. For long term, dis kain incident dey show say permission control and key management need to strong. E fit make traders dey more careful but e no go change fundamentals or token values, so di overall market effect go neutral.