A certain white-hat hacker successfully intercepted about 2.6 million dollars of stolen encrypted assets in the Morpho Labs protocol

According to Cointelegraph, a white-hat hacker successfully intercepted about $2.6 million in crypto assets stolen from the decentralized finance (DeFi) protocol of Morpho Labs.

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

The Morpho Labs team has confirmed that it has rolled back the frontend update and all funds within the protocol are safe and unaffected. They will release a detailed event description next week.