Deep Tide TechFlow News, on August 7, according to CoinDesk, the latest report from security agency SentinelLABS shows that a group of scammers has successfully stolen over $1 million in crypto assets by deploying malicious smart contracts disguised as Maximum Extractable Value (MEV) trading bots. The attackers implemented the fraud through AI-generated YouTube tutorial videos and obfuscated smart contract code.

The largest single attack wallet address has acquired 244.9 ETH (approximately $902,000), and this wallet is associated with a YouTube account that has 387,000 views. The attackers concealed the flow of funds using techniques such as XOR obfuscation and utilized multiple wallets to transfer the stolen assets.