MEV Bot Yoink Out-Runs Hacker in $7.8M rsETH Heist

A Safe multisig wallet on Ethereum held a leveraged position in rsETH, structured through Aave's wrapped token, aEthrsETH. An attacker set up an exploit against this wallet, but another program, dubbed 'Yoink', grabbed the loot first.

The bot paid roughly 18.93 ETH (about $46,000) to jump the queue and then walked off with 2,900 rsETH worth close to $7.8 million. The original hacker got nothing from the exploit.

Kelp DAO responded by placing the address where the funds landed under a temporary 24-hour freeze as a precautionary measure. They assured holders that Kelp contracts are safe and rsETH remains fully backed.