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Unibot, a well-known Telegram bot for Uniswap trading, suffered an approval vulnerability on Tuesday, resulting in a loss of tokens valued above $600,000.<\/p>\n
A newly deployed contract was compromised, leading to the loss of several meme coins belonging to users.\u00a0<\/p>\n
The firm pinpointed the problem as a \u201ctoken approval exploit\u201d from its new router, which led them to momentarily halt the router to address the issue.<\/p>\n
\u201cWe experienced a token approval exploit from our new router and have paused our router to contain the issue,\u201d the team said<\/a> on X.<\/p>\n \u201cAny funds lost due to the bug on our new router will be compensated. Your keys and wallets are safe.\u201d<\/p>\n PeckShield initially detected the exploit, revealing<\/a> that the attacker transferred the stolen tokens to Uniswap and moved the funds to crypto mixer Tornado Cash.\u00a0<\/p>\n The attacker appears to have exchanged the tokens for about 355.75 ETH, equal to around $640,000, according to the blockchain security firm.\u00a0<\/p>\n Meanwhile, analytics firm Scopescan pegged<\/a> the size of the exploit at $560,000.\u00a0<\/p>\n While inquiries continue, Scopescan and Beosin recommended that impacted users revoke permissions for the compromised contract and move their assets to a safer wallet.<\/p>\n SlowMist, another security firm, stated<\/a> that the attack was a result of missing essential parameter verifications, allowing the attacker to move tokens that users had authorized for the Unibot contract.<\/p>\n The UNIBOT token was last down nearly 30% at $44.01 as of 5:20 a.m. ET on Monday, data<\/a> from Blockworks Research showed.<\/p>\n The team expects to provide a detailed update once the investigation is complete, with a Telegram admin mentioning a potential update in the upcoming 24 hours.<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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