The well-known MEV bot Jaredfromsubway.eth on the Ethereum network lost assets worth more than $7.5 million as a result of a hacker attack. ????Community Alert:Blockaid Exploit Detection system detected an exploit involving the @jaredsmev MEV bot on Ethereum.The incident resulted from attacker-controlled contracts tricking an automated MEV execution system into granting token approvals, later used to drain funds.…— According to Blockaid, the attacker acted through controlled smart contracts and tricked the bot's automated execution system into approving tokens, which it used to withdraw funds. «This is not a classic phishing attack and not a traditional smart contract vulnerability in the victim's contract», the company's experts clarified. According to them, the attacker deployed dozens of fake token contracts disguised as WETH, USDC and USDT, and linked them to fake liquidity pools. The structures looked like profitable trades that MEV bots usually react to in order to carry out sandwich attacks. The scheme forced Jaredfromsubway.eth to grant the attacker's auxiliary contracts permissions to spend real assets. Then the attacker triggered all the backdoors in a single transaction and withdrew the funds. Part of the coins has already been moved to Tornado Cash, Arkham data shows. According to Cointelegraph's estimate, traders' annual losses in Ethereum from sandwich attacks amount to about $60 million. From November 2024 to October 2025 the network recorded 60,000-90,000 such operations per month, and about 70% of them were linked to Jaredfromsubway.eth.
Source: ForkLog
