Oh Dear! Makina Finance Lost 1,299 ETH: A Comedy of Errors in Crypto!

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Key Highlights

  • It seems our dear Makina Finance has taken quite a tumble, losing a staggering $4.13 million in a single, dramatic swoop-1,299 ETH vanished faster than a magician’s rabbit!
  • Enter the dashing MEV builder, who swooped in to front-run this little escapade, snatching the funds right after the swap. Bravo, I say!
  • The pilfered treasures now lounge lazily in two wallets, while Makina Finance-bless their hearts-has yet to make a peep about this charming escapade.

In a classic case of ‘guess who’s coming to dinner,’ the attacker whisked away 1,299 ETH in one fell swoop. PeckShield, ever the nosy neighbor, confirms that our elusive villain was front-run by a savvy MEV builder, revealing the on-chain drama that unfolded.

Picture this: a cheeky bot, sensing trouble in the air, replicated the attacker’s transaction with a higher gas fee, effectively stealing the bounty right from under their nose. What a delightful twist!

Post-heist, our wayward assets were tracked to two rather plush wallet addresses. One is currently basking in about $3.3 million, while its sibling holds a modest $880,000. Such a lovely family reunion!

The Swap That Started It All

This little caper kicked off with a hefty swap on Uniswap V3, where a cool 4.24 million USDC was exchanged for 1,299.18 ETH, worth a princely sum of $4.13 million at the time. A round of applause for such an impressive exchange!

The transaction was confirmed on Ethereum block 24,273,362 at 03:40:35 UTC on January 20, 2026. Remarkably, it went through without a hitch and a gas fee of a mere $0.50-one must admire the careful execution!

Liquidity danced through various protocols before settling down. The records show a raucous party across Curve and Aave, with over $5.1 million in USDC frolicking through the transactions. How thrilling!

Our Dashing MEV Builder Strikes

Shortly after the ETH graced the attacker’s wallet, it was swiftly whisked away again, this time to an address linked to our illustrious MEV builder, known affectionately as (0xa6c2….). The timing was impeccable, right after the swap-such finesse!

On-chain data indicates the ETH took a detour before the attacker could even blink, showcasing a bit of MEV magic instead of your average post-exploit shuffle. Quite the spectacle!

This speedy transfer right after the swap hints at the transaction being noticed and acted upon during the block-building process-oh, the drama! The ETH was snatched away before our would-be thief could move it further. A script worthy of Shakespeare!

As for whether the stolen funds belonged to user liquidity providers or the ever-mysterious protocol treasury, that remains shrouded in mystery. Users are advised to revoke token approvals for Makina contracts immediately-better safe than sorry, darling!

The funds originated from Wrapped Ether and were sent in one swift motion, no splitting or delay in sight. A veritable whirlwind of activity!

Funds Still Playing Hide and Seek

PeckShield reports that the purloined assets remain comfortably nestled in two separate wallets. One lounges contentedly with about $3.3 million, while the other enjoys its $880,000. How quaint!

So far, there’s been no further movement. The funds haven’t been bridged, mixed, or sent to any exchanges-no attempts to blend in with the crowd, just a glorious standoff!

Makina Finance: The Silent Treatment

Makina Finance, it appears, is rather shy and has yet to comment on this little debacle. They haven’t acknowledged the situation on social media, leaving us all in suspense-are user funds affected? Are recovery actions being planned? The plot thickens!

The silence has certainly captured attention given the size of the loss and the breathtaking speed of the attack. One wonders if they’re preparing for a grand reveal!

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2026-01-20 13:56