A certain white hat hacker successfully intercepted approximately 2.6 million dollars worth of stolen encryption assets in the Morpho Labs protocol.

According to ChainCatcher news reported by Cointelegraph, a white hat hacker successfully intercepted approximately 2.6 million dollars worth of encrypted assets stolen from the Morpho Labs Decentralized Finance (DeFi) protocol. The blockchain security company PeckShield stated that after Morpho Labs conducted a front-end update on its Morpho Blue application on April 10, an address was attacked due to a vulnerability caused by the update. The well-known white hat hacker MEV operator c0ffeebabe.eth successfully intercepted the stolen funds through a front-running transaction. The funds have now been transferred to another wallet address. The Morpho Labs team has confirmed that the front-end update has been rolled back, and all funds within the protocol are safe and unaffected. They stated that a detailed event report will be released next week.