UNIBOT Price Plummets By 40% As the Telegram Bot Suffers Security Breach

On-chain analytics firm LookOnChain reported that an attacker has exploited a vulnerability in Unibot – a cryptocurrency trading bot – and has already drained over $600,000 worth of user funds.

Unibot enables automated trading via customized strategies. However, a hacker discovered an access point and has started siphoning assets from connected users’ wallets.

According to on-chain transaction data, the hacker continues moving user funds from Unibot into their own wallet before selling them for ETH on decentralized exchanges. Each transfer represents assets being stolen from a Unibot user.

The issue was exacerbated by excessive permissions granted to the Unibot smart contracts, allowing the exploiter full access once the vulnerability was uncovered.

The reports of the hack caused Unibot’s native token, UNIBOT, to crash over 40%, plunging from $58 down to $36 before stabilizing around $43. The breach of trust has severely damaged community confidence, despite the project’s claims that funds are “safu.”

LookOnChain advises all Unibot users to immediately revoke contract approvals and move funds out of the platform to protect against further loss. Do not rely on Unibot to safeguard your holdings until the issues are transparently resolved.

Read also:

The incident highlights the need for cautious permissions when approving third-party smart contracts to limit damage from potential exploits like this. Audit reports also cannot guarantee safety, as new vulnerabilities can emerge later.

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!