Unibot contract $560K exploit crashes token price by more than 40%

Unibot dedicated to compensating all users who lost funds due to the contract exploit.”Blockchain security company CertiK validated to Cointelegraph that it has been able to find the transactions showing the 334 ETH compensation paid out to users from Maestro.Magazine: Ethereum restaking: Blockchain innovation or dangerous home of cards?

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A new agreement deployed on Oct. 29 by Unibot, a popular Telegram bot used to snipe trades on the decentralized exchange Uniswap, was reportedly exploited for roughly $560,000 in different memecoins from users.On Oct. 31, blockchain security company Scopescan alerted Unibot users about an ongoing hack on Unibot that went unnoticed. A make use of on a newly deployed agreement by Unibot drained the crypto holdings of numerous users..@TeamUnibot seems made use of, the exploiter transfers memecooins from #unibot users and is exchanging them for the $ETH right now.The current exploit size is ~$ 560KExploiter address: https://t.co/ysyTmgUAit pic.twitter.com/MF85Fdk892— Scopescan (.) (@ 0xScopescan) October 31, 2023

Unibot later verified the hack by revealing initial information:” We experienced a token approval make use of from our brand-new router and have actually paused our router to contain the issue.” Amid ongoing examinations from Unibot and blockchain detectives, Scopescan encouraged users to withdraw the approvals for the made use of contract (0x126c9FbaB3A2FCA24eDfd17322E71a5e36E91865) and move the funds to a brand-new wallet.Unibot hacker moving funds. The tokens price is making a recovery attempt at the time of writing.We experienced a token approval exploit from our brand-new router and have paused our router to include the issue.Any funds lost due to the bug on our new router will be compensated.