Unibot, a trading bot on Telegram, suffers from a token approval exploit

Unibot

In a recent cybersecurity incident, Unibot, a trading bot operating on Telegram, fell victim to a token approval exploit. The exploit originated from a new router, leading to a significant security breach. In response to the attack, Unibot has paused the router to contain the issue and prevent further exploitation.

Stolen funds laundered through Tornado Cash

According to the X post seen on the official account of the team. the exploit allowed the attacker to gain unauthorized access to tokens. One of the attacker’s addresses managed to exchange the stolen tokens for 355.75 Ethereum (ETH), equivalent to approximately $640,000. The attacker then laundered the stolen funds through Tornado Cash, a privacy-focused Ethereum mixing service.

A representative from Unibot stated,

“We have identified a token approval exploit in our new router and have taken immediate action by pausing the router. We are working tirelessly to resolve this issue and strengthen our security measures.”

Raises concerns about the security measures of trading bots

The incident has raised concerns about the security measures in place at Unibot and other similar trading bots. It underscores the importance of robust cybersecurity practices in the rapidly evolving world of cryptocurrency trading.

The representative from Unibot added,

“We are committed to maintaining the trust of our users. We are conducting a thorough investigation into this incident and will take necessary steps to prevent such incidents in the future.”

Another reminder of the risks of using trading bots

This incident serves as a stark reminder of the risks associated with cryptocurrency trading. While trading bots like Unibot offer convenience and efficiency, they are also targets for cybercriminals. Users are advised to exercise caution and ensure they are using secure platforms for their trading activities.

Unibot is working on resolving the issue and strengthening its security measures. Meanwhile, users are reminded of the importance of vigilance in protecting their digital assets. The crypto community will be watching closely to see how Unibot handles this incident and what measures it takes to prevent future exploits.

Author: Wyse Wisdom

Wyse is a skilled freelance writer specializing in cryptocurrencies. With a deep understanding of blockchain technology and market trends, he delivers informative and engaging contents. His expertise in translating complex concepts into accessible language makes him a valuable resource for crypto enthusiasts, investors, and businesses."