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Sunday, July 21, 2024
An oracle's misconfiguration turns into a $7.5 million windfall for an alert MEV bot.
What began as a simple misstep in Rho Market's oracle configuration turned into a payday for an opportunistic MEV bot on July 19th, as it swiftly seized upon the opening within the protocol built on Scroll.
In the high-stakes world of DeFi, even the slightest miscalculation can lead to catastrophic losses.
Millions can vanish in the blink of an eye.
In this digital Wild West, MEV bots are the new gunslingers, their algorithms primed to outdraw any protocol that leaves its vault unlocked.
But when the quick-draw artist holsters their gun and offers to return the loot, who's really the outlaw in this digital frontier?
Is it still an exploit if the attacker offers to give it all back?
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We are all rekt.