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.