Ethereum's Well-Known MEV Bot JaredFromSubway Exploited, Suffers $7.5 Million Loss

Blockchain security firm Blockaid reported that Ethereum MEV bot JaredFromSubway lost approximately $7.5 million after attacker-controlled contracts tricked its automated execution system into granting token approvals. The attacker later used the remaining allowances to drain WETH, USDC and USDT from the bot. Blockaid said the incident was not a phishing attack or smart-contract vulnerability, but an exploitation of the bot’s automated MEV opportunity detection and approval mechanism.