Unibot, a Telegram-based trading tool, said today that it had been hit by a “token approval exploit.”
Security analysts at PeckShield first sounded the alarm early on October 31 in a post on X, claiming roughly $580,000 worth of crypto had been affected. Unibot confirmed the exploit shortly after.
“We experienced a token approval exploit from our new router and have paused our router to contain the issue,” the company said in a separate post on X.
“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.”
News of the exploit triggered a sharp decline in the price of Unibot’s token, which was down 33% to $38.50 at the time of writing, according to CoinGecko data.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.