Attacker steals 500,000 USDC on Base chain, loses over 75% of stolen funds to MEV bots during token swap

Odaily News: On-chain security firm PeckShield (@PeckShieldAlert) monitoring shows that an attacker, through controlling address 0x920d…9708, stole approximately 500,000 USDC from a victim wallet 0x3a53…0B5c on the Base chain. However, when the attacker subsequently attempted to swap the USDC into ETH, insufficient slippage protection parameters were set, causing the transaction to be sandwiched and arbitraged by MEV bots. In the end, the attacker only received approximately 67 WETH, valued at around $129,000, meaning the stolen funds suffered a loss rate exceeding 75%.