- Unibot, a popular cryptocurrency trading bot on Telegram, suffered a major hack starting on October 29th.
- An estimated $600,000 worth of meme coins and other crypto assets were drained by an unknown attacker.
- Unibot confirmed the exploit and temporarily halted its router to address the issue.
Unibot, a widely used cryptocurrency trading bot on messaging platform Telegram, appears to have fallen victim to a major hack exploiting a vulnerability in a newly deployed contract. According to blockchain analytics firm Lookonchain, an unknown attacker drained an estimated $600,000 worth of meme coins and other crypto assets from Unibot users starting October 29th.
Unibot acknowledged the exploit in a tweet, stating, “We experienced a token approval exploit from our new router and have paused our router to contain the issue.” The company has promised to compensate all affected users, though total losses are still being tallied.
UNIBOT plunged by 40% following the hack
In the aftermath, Unibot’s native governance token plunged over 40% from $57 to below $33 as confidence crumbled. Scopescan advised users to immediately revoke contract approvals to prevent further theft.
On-chain data shows the hacker has been actively converting stolen tokens like JOE, UNIBOT, and BeerusCat into Ether. The address associated with the exploit has also been spotted receiving tokens, indicating the attack is likely still ongoing.
The recent hack is reminiscent of a recent exploit that drained 280 ETH from users of a similar Telegram trading bot, MaestroBots. In that case, MaestroBots covered all user losses with 610 ETH from its own holdings, though it cited liquidity issues with repurchasing stolen tokens.