Unibot Token Hurtles 25% as Telegram Bot Exploited for $630K

Telegram trading bot Unibot said it would reimburse any stolen funds after being the victim of a token approval exploit that drained the protocol for over $600,000.

We experienced a token approval exploit from our new router and have paused our router to contain the issue.

Any funds lost due to the bug on our new router will be compensated. Your keys and wallets are safe.

We will release a detailed response after investigations conclude.

— Unibot (@TeamUnibot) October 31, 2023

"We experienced a token approval exploit from our new router and have paused our router to contain the issue,” the protocol posted on X. “Any funds lost due to the bug on our new router will be compensated. Your keys and wallets are safe.”

The price of the Unibot token is down nearly 25% to just over $42. The price of the token peaked in mid-August at nearly $220. The protocol, at its peak, generated a significant amount of revenue, thus attracting the interest of investors.

This is the latest exploit in the crypto world. Last week, LastPass users lost $4.4 million worth of crypto.

According to data spotted by Lookonchain, the attacker’s wallet now has just over $630,000 in crypto assets, with the majority being in ether (ETH) followed by USDC.