DeFi platform Uniswap faces a “sandwich attack” where 8 addresses stole assets worth $25.2 Million from 8 of its liquidity pools.
Attackers took advantage of the flaw in the Uniswap smart contract. They conducts a sandwich attack by searching for a pending transaction on the network of their choice. By placing an order immediately before the transaction and another immediately after it, sandwiching is accomplished to rig the price of assets.
The attacker(s) stole 7,461 $WETH worth $13.4M, 5.3M $USDC, 3M $USDT, 65 $WBTC worth $1.8M, and 1.7M $DAI. LookonChain reported that these 8 addresses are funded by KuCoin.
This reminds the danger posed by Miner Extractable Value (MEV) bots on the crypto ecosystem which may result in changes to the system as a whole.
Subscribe to The Crypto Time for More DeFi Updates!!
