DeFi platform Uniswap is facing a “sandwich attack” in which 8 entities stole $25.2 million worth of assets from 8 of its liquidity pools.
Attackers exploited the flaw in Uniswap’s smart contract. They perform a sandwich attack by looking for a pending transaction on the network of their choice. By placing one order immediately before the transaction and another immediately after, sandwiching is performed to manipulate the price of the 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 is a reminder of the danger posed to the crypto ecosystem by miner extractable value (MEV) bots, which can lead to changes to the entire system.
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