Basically the attacker created a bunch of “fake wrapper” that mint-wrapped real tokens like WETH/USDC/USDT. Jared was boiled like a frog. Juicy arbitrages on real pools with the fake wrappers. Jared started small to test the waters, made money, things looked safe, then scaled up

🚨Community Alert: Blockaid Exploit Detection system detected an exploit involving the @jaredsmev MEV bot on Ethereum. The incident resulted from attacker-controlled contracts tricking an automated MEV execution system into granting token approvals, later used to drain funds. 7.5M$ drained. Exploit tx: https://etherscan.io/tx/0x2be8704f5a59b6… More details in🧵