Trader loses $2M in ‘same-block backrun extraction’ exploit
CoinTelegraph·
60-second summary
A crypto trader has lost $2 million due to a 'same-block backrun extraction' exploit, where they unknowingly signed a malicious transaction. The victim could have prevented the loss by reading the transaction route before signing. This incident highlights the importance of thorough transaction verification, underscoring the need for increased vigilance in the crypto market to prevent such costly mistakes.
One crypto trader noted the $2 million loss could have been prevented had the victim read the transaction route before signing the transaction.