Phishing Attack on Base Loses Thief Over Three-Quarters of Stolen Funds

A phishing attack on August 6 drained over $500,000 from a victim's wallet on Base, Coinbase's Ethereum Layer-2 network.

The attacker phished $501,650 in USDC and attempted to swap it into wrapped ETH without slippage protection on Uniswap V4.

An MEV bot sandwiched the swap, capturing about $370,000 in profit at the expense of nearly three-quarters of the stolen funds.

The victim offered a 10% bounty for the return of the stolen funds but as of August 7, no funds had been returned and no arrests made.