$7.45M Taken from Unnamed Safe Multisig on Avalanche
A misconfiguration in a 2-of-7 Safe multisig led to a significant loss of assets. An MEV bot front-ran an attack, resulting in the theft of approximately $7.45 million.
A 2-of-7 Safe multisig holding trading inventory on Avalanche experienced a security incident due to a misconfiguration that granted unlimited approvals to an address. This vulnerability allowed anyone to deploy code, which was exploited in an attack. However, the attack was front-run by an MEV bot, which subsequently took approximately $7.45 million in assets from the multisig wallet.
The MEV bot involved in the incident claims to be acting as a whitehat and is currently negotiating the return of the stolen funds in exchange for a bounty of 5–10%. The incident highlights the risks associated with misconfigured smart contracts and the potential for front-running in decentralized finance environments.
While the specific blockchain is not stated, the incident occurred on Avalanche, which may have implications for tracing the movement of the stolen assets. The on-chain record would reflect the transactions associated with the multisig and the address that exploited the vulnerability, although specific addresses are not provided in the description.