Your Keys and Wallets Are Safe, According to Telegram Bot Unibot, Despite a $640k Exploit

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Last Updated on November 1, 2023 by Bitfinsider

Unibot, a popular trading tool on Telegram, is the latest victim in an ever-growing series of crypto attacks.

Alarm bells rung today as the project disclosed a “token approval exploit” affecting Unibot. “Your keys and wallets are safe,” the project claimed, adding that any monies lost due to the bot’s “new router” will be reimbursed.

A “token approval exploit” is a flaw in smart contract permissions that allows unauthorized access to or transfer of a user’s tokens above the intended limit.

Initial estimates suggested that approximately $640,000 in cryptocurrencies had been compromised. Subsequent investigations indicated that the misappropriated monies were swiftly transferred and changed to Ethereum.

The exploiters first moved the stolen assets to Uniswap, a decentralized exchange, before transferring them to Tornado Cash.

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