Beware of MEV! Even Coinbase was drained for ~$300,000 when swapping on-chain
On Wednesday Coinbase was drained of ~$300,000 after using 0x swapper incorrectly.
They approved all the tokens accrued as fees to their router, getting drained immediately by MEV bots.
This same swapper is known to have had issues with Zora claims on Base, since it allows users to have it make arbitrary calls
This just goes to show that even the most experienced people and companies have to be careful when interacting on-chain, specially due to MEV bots.
submitted by /u/schnapps91038
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