A white hat hacker successfully intercepted approximately 2.6 million dollars worth of stolen crypto assets from the Morpho Labs protocol

ChainCatcher news, according to Cointelegraph, a white hat hacker successfully intercepted approximately $2.6 million in stolen crypto assets from the Morpho Labs decentralized finance (DeFi) protocol.

Blockchain security company PeckShield stated that after Morpho Labs performed a front-end update on its Morpho Blue application on April 10, an address was attacked due to a vulnerability triggered by the update. The well-known white hat MEV operator "c0ffeebabe.eth" successfully intercepted the stolen funds through a front-running transaction. The funds have now been transferred to another wallet address.

The Morpho Labs team has confirmed that they have rolled back the front-end update, all funds within the protocol are safe and unaffected, and they will release a detailed incident report next week.