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Report: Over $1 million in cryptocurrency assets stolen by malicious smart contracts disguised as MEV Bots.
According to a report by SentinelLABS, over 1 million USD in encryption assets have been stolen by malicious smart contracts disguised as MEV Bots. This scam activity guides users through AI-generated YouTube tutorial videos to deploy contracts on Remix and transfer ETH to wallet addresses controlled by the attackers. The related code uses methods such as XOR obfuscation and decimal to hexadecimal conversion to hide the flow of funds. One address received approximately 244.9 ETH (about 902,000 USD), and the corresponding video is still online on YouTube, with over 380,000 views. SentinelLABS warns users to be cautious of “free trading Bots” promoted on social media, and that even Testnet contracts should be thoroughly reviewed to avoid financial risks. (CoinDesk)