Unibot Token Surges 25% Following Exploitation of Telegram Bot, Resulting in $630,000 Loss
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."
We experienced a token approval exploit from our new router and have paused our router to contain the issue.— Unibot (@TeamUnibot) October 31, 2023
Any funds lost due to the bug on our new router will be compensated. Your keys and wallets are safe.
We will release a detailed response after investigations conclude.
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.
The hacker: https://t.co/C6hs0gEE5Q— Lookonchain (@lookonchain) October 31, 2023