According to Cointelegraph, a white hat hacker successfully intercepted approximately $2.6 million in crypto assets stolen from the Morpho Labs DeFi protocol.
Blockchain security company PeckShield stated that an address was attacked due to a vulnerability caused by the frontend update of Morpho Blue on April 10. The well-known white hat MEV operator "c0ffeebabe.eth" successfully intercepted the stolen funds through front-running. The funds have been transferred to another wallet address.
The Morpho Labs team has confirmed that the frontend update has been rolled back, and all funds in the protocol remain safe. They also stated that they will release a detailed event explanation next week.
