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Unibot Token Surges 25% Following Exploitation of Telegram Bot, Resulting in $630,000 Loss

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HANZO
Oct 31, 2023 at 07:46 am

Unibot, a Telegram trading bot, has declared its commitment to refunding any pilfered funds following a token approval exploit that resulted in a depletion of over $600,000 from the protocol.

On X, Unibot officially acknowledged falling victim to a token approval exploit within its recently implemented order router. The protocol issued a statement on X, assuring users, "We encountered a token approval exploit through our new router and have temporarily halted its operation to address the matter. Any funds lost due to this glitch in our new router will be fully reimbursed. Your keys and wallets remain secure."

The value of the Unibot token has seen a substantial decline of nearly 25%, now hovering just above $42. In contrast, the token's value reached its zenith in mid-August, peaking at nearly $220. At its pinnacle, the protocol yielded a substantial revenue stream, garnering significant interest from investors.

Per data uncovered by Lookonchain, the attacker's wallet currently holds slightly over $630,000 in various crypto assets, with the bulk predominantly comprised of ether (ETH), closely followed by USDC.

Read more: DAO Decision: Lido Finance Ends Solana Staking Product

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