Unibot to Compensate Users Affected by Exploit
- Popular Telegram bot Unibot, which is used to snipe trades on Uniswap, became a victim of a token approval exploit earlier today, when it was switching to a new router.
- After confirming the exploit, Unibot assured users that their keys and wallets were safe, and that the project will compensate all affected users.
Shutterstock
Popular Telegram crypto trading chatbot Unibot had one of its newly deployed contracts exploited for roughly $640,000 in various memecoins, the project confirmed the hack via X (formerly Twitter) on 31 October.
The first to warn Unibot users about the ongoing hack was blockchain analytics firm Scopescan, who earlier in the day noted that an apparent exploiter is converting memecoins from Unibot users into Ether (ETH). The chatbot protocol later disclosed that it had become a victim of a token approval exploit when moving to a new router, and that it would fully compensate the hacker’s victims.
According to blockchain security company PeckShield, the attacker first moved the hacked crypto — estimated to be worth roughly $640,000 — to decentralized exchange Uniswap, where it was exchanged for ETH, and later moved to Tornado Cash. The platform has often been used in high-profiled crypto hacks and exploits to obfuscate the origin of the stolen digital assets, and some of its development team were even charged earlier this year with helping hackers launder aver $1 billion id digital assets.
The news of the hack had an immediate negative impact on the Unibot token (UNIBOT), which witnessed more than 40% drop in its price in the first hour, but later recovered slightly and is now trading down 25% for the past 24 hours. This is not the first Telegram crypto trading chatbot to fall victim to an exploit, with Maestrobots falling victim to a similar exploit earlier this month. Following the 280 ETH exploit, Maestrobot also opted out to cover all loses and pay 610 ETH from its own revenue.
- DeFi protocol Balancer confirmed it was exploited almost a week after disclosing a critical vulnerability affecting several of its boosted pools.
- The platform did its best to mitigate some of the risks but was unable to pause the affected pools, and an estimated $980,000 in DAI were stolen in an attack.
Shutterstock
- A cyber security incident at bankruptcy service provider Kroll has resulted in the exposure of “non-sensitive” customer data for claimants involved in the FTX and BlockFi cases.
- Both companies confirmed that account passwords, systems, and funds remained safe, but warned customers to be on the lookout for phishing scams.
- Blockchain network Terra said its website was compromised by hackers over the weekend, and warned users against ongoing phishing scams.
- The platform later froze its website to prevent the hackers from exploiting it, and reminded users to avoid websites with the terra.money domain for now.