Unibot Hit by Token Exploit: Users Lose Over $600k

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Unibot, a popular platform that deploys chatbot solutions, reportedly suffered a hack resulting in an estimated $600,000 or more in stolen user funds.

According to a post on X by on-chain analyst Lookonchain, a hacker targeted and drained assets from Unibot user wallets. Lookonchain warned Unibot users to immediately move any remaining funds to new wallets and revoke contract approvals to prevent further losses. 

Unibot also acknowledged the hack on X shortly after Lookonchain’s warning. According to Unibot, the attack stemmed from a vulnerability in a newly deployed router contract that enabled the hacker to hijack approved user tokens. Unibot has paused its router to contain the issue, but substantial damage has already occurred.

In addition, the platform announced that users who suffered losses due to the “router exploit” would be compensated, assuring users that their wallet private keys remain secure, though this is cold comfort to those who saw their crypto assets drained against their will. Unibot also mentioned that the team will release a detailed report on it post-investigations.

In the aftermath of the reports, Unibot’s governance token, UNIBOT, plunged over 42%, indicating a massive loss of confidence among token holders and platform users.According to the current market prices, UNIBOT is trading at $43.23, rising from a low of $36.45. However, the token is still down from its 24-hour high of $58. Unibot’s recent hack is a reminder to keep crypto asset’s safe and in self custody.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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