Golden Finance reported that Coinbase lost approximately $300,000 in token fees to MEV bots due to a configuration error when interacting with the 'swapper' contract of 0xProject. Venn Network's security researcher, 'X' user deeberiroz, disclosed on Wednesday that Coinbase interacted with the 'swapper' smart contract of the decentralized peer-to-peer trading platform 0x, which was never designed for token authorization operations. The 'swapper' contract provided by 0xProject is intended for executing token exchanges. The contract is permissionless, allowing anyone to call it to perform any operation without ownership restrictions. However, it was not designed to receive token authorizations, as doing so could put funds at risk. The researcher noted that this design has previously led to known issues, such as incidents involving Zora airdrop claims on the BaseLayer2 network.

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