Unibot Users Lose $560K In Memecoins In Devastating Exploit

In a recent security incident, a new contract deployed by Unibot UNIBOT/USD, a widely-used Telegram bot known for sniping trades on the decentralized exchange Uniswap, was exploited, leading to a loss of approximately $560,000 in various memecoins from users.

According to blockchain analytics firm Scopescan, the breach involved "the exploiter transferring memecoins from #unibot users and is exchanging them for the $ETH right now."

This revelation raised concerns within the crypto community, especially among those who utilize the services of Unibot.

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The digital landscape's vulnerabilities and the future of digital asset security will be among the hot topics discussed at Benzinga's Future of Digital Assets conference on Nov. 14. Such incidents emphasize the importance of understanding the evolving challenges and solutions within the crypto ecosystem.

In response to the exploit, Unibot took to Twitter to assure its users, stating: "We experienced a token approval exploit from our new router and have paused our router to contain the issue."

The company went further to ensure its community that any funds lost due to the bug on their new router would be compensated.

They emphasized, "Your keys and wallets are safe."

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