DeFi Drama: 1,299 ETH Vanishes Faster Than a Snail in a Marathon!

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Key Highlights

  • Makina Finance has found itself in a bit of a pickle, suffering a whopping $4.13 million loss, with 1,299 ETH spirited away in a single exploit. Quite the disappearing act, wouldn’t you say? 🎩✨
  • The dastardly deed was front-run by a cheeky MEV builder, who swooped in like a hawk on a mouse, capturing the funds right after the swap. Talk about timing! ⏱️
  • The pilfered assets are currently lounging in two wallets, and as of now, Makina Finance is playing a game of silence. Shocking, I know! 🤐

In a plot twist worthy of a detective novel, the villain withdrew 1,299 ETH in a single transaction. Our friends at PeckShield reported that the sneaky attacker was outsmarted by a sharp MEV builder during the transaction execution-a revelation that makes one ponder the intricacies of blockchain blockages.

After the heist, the funds were traced to two wallets. One holds around $3.3 million, while the other is flaunting roughly $880,000. Quite the treasure hunt, if I do say so myself! 🗺️💰

The Swap That Started It All

The calamity unfolded through a large swap on Uniswap V3, where approximately 4.24 million USDC were exchanged for 1,299.18 ETH, valued at-wait for it-about $4.13 million at the time. A splendidly lucrative swap, if ever there was one!

This monumental transaction was confirmed on Ethereum block 24,273,362 at precisely 03:40:35 UTC on January 20, 2026. Remarkably, despite the size of the swap, it went through without a hitch and for a gas fee of just over $0.50. That’s what I call efficiency! 💨

The swap shimmied through various protocols before settling down. On-chain records indicate a party was had across Curve and Aave, with over $5.1 million in USDC gracefully passing through the transactions. The funds took a little detour through Curve’s DAI and 3Crv pools before finally deciding to settle on Uniswap-what a journey! 🚀

MEV Builder’s Quick Reflexes

Just moments after the ETH arrived in the attacker’s wallet, nearly the entire sum was whisked away, this time to an address linked to a MEV builder, charmingly identified as (0xa6c2….). This transfer occurred right after the swap, suggesting our friend was rather prompt in their actions. Could it be telepathy? 🧠✨

On-chain data reveals that the ETH made a quick pit stop before the attacker could further abscond with it, indicating some crafty MEV activity rather than a run-of-the-mill post-exploit transfer. Talk about being one step ahead!

The transfer was executed with the grace of a ballet dancer, coming from Wrapped Ether and sent in a single transaction, with nary a sign of delay or splitting. A masterclass in speedy thievery, if I dare say! 💃

To date, there has been no further movement of the stolen funds lounging in the two wallets. No bridging, mixing, or daring escapades to exchanges-just a quiet existence for the time being. They must be enjoying a well-deserved holiday! 🌴

Wherefore Art Thou, Makina Finance?

Our dear friends at Makina Finance have yet to respond to this tumultuous exploit. No tweets, no clarifications-it’s as if they’ve taken a vow of silence! The hush has raised eyebrows, considering the scale of the loss and the swiftness of the attack. One can only imagine the boardroom discussions! 📈🤔

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2026-01-20 09:25