A Telegram trading bot crypto project launched earlier this year has traded for more than $600,000.
According to the team behind the Unibot (UNIBOT) crypto project, the nature of the hack was one token approval exploit.
“We experienced a token approval exploit from our new router and paused our router to resolve the issue.
Any money lost due to the bug on our new router will be compensated. Your keys and wallet are safe.
We will release a detailed response after the investigation is completed.”
UniBot, which bills itself as “the fastest Telegram Uniswap Sniper,” has suffered a steep 16% drop in the past 24 hours since the news broke. The Telegram bot aims to enable users to trade crypto tokens on Uniswap v3. It is a Leveraged Liquidity Provision (LLP) platform developed by Singapore-based crypto investment platform Diamond Protocol.
According to crypto security alert company Peckshield, he is already one of the exploiters exchanged the stolen money for Ethereum (ETH). Moreover, the funds have already been laundered.
“Exploiter #1 exchanged the stolen coins for ~355.75 ETH (worth ~$640,000) and laundered them via TornadoCash.”
At the time of writing, the loot of stolen crypto is worth $640,745.
The Unibot trading bot was released in May 2023. UNIBOT is worth $42.11 at the time of writing, down 36% in the past month.
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Generated image: Midjourney