Ethical Hacker Intercepts $2.6M from Morpho Labs DeFi Exploit

A known white hat hacker, identified as c0ffeebabe.eth, successfully intercepted approximately $2.6 million in crypto assets stolen from the Morpho Labs decentralized finance (DeFi) protocol following a vulnerability exploit. This incident occurred after Morpho Labs implemented an update to its Morpho Blue application on April 10th. A blockchain security firm, PeckShield, reported that an attacker exploited this vulnerability to transfer funds from an address associated with the project. However, c0ffeebabe.eth intervened, strategically executing a front-running technique to acquire the stolen assets before they reached the hacker’s intended destination.