Coinbase Attacked by MEV Bots, Losses Approximately $300,000

According to reports, due to an interaction configuration error with the 'swapper' contract of Coinbase and the 0x project, Coinbase has incurred cumulative losses of approximately $300,000. Venn Network's security researcher deeberiroz reported that the 'swapper' contract provided by the 0x project is permissionless, allowing anyone to invoke operations without restrictions. The bots appear to have exploited this contract to execute transfer operations, moving tokens approved in Coinbase's wallet to their own addresses. In response, Coinbase's Chief Security Officer Philip Martin stated that this incident did not affect customer funds and is merely an isolated incident.