MEV Bot Yoink Foils $7.8 Million Heist on Ethereum

A large-scale heist occurred on Ethereum's blockchain, where approximately $7.8 million in assets were drained from a Gnosis Safe wallet.

The exploit was caused by a flawed authorization check in an external contract, allowing attackers to bypass security measures and execute unauthorized transactions.

MEV bot 'Yoink' detected the attack and intervened, executing its own transaction first, thereby preventing the attackers from extracting most of the stolen assets.