UniBot: Hackers siphon $600k – did the token face losses?
- Hackers steal over $600,000 from UniBot.
- The UNIBOT token had declined by over 17% till press time.
On 31 October, a number of experiences emerged, which disclosed that UniBot [UNIBOT] had fallen sufferer to a hacking incident. Subsequently, the official UniBot workforce’s web page on platform X (previously Twitter) acknowledged these circulating experiences in considered one of their posts.
We skilled a token approval exploit from our new router and have paused our router to include the problem.
Any funds misplaced because of the bug on our new router can be compensated. Your keys and wallets are protected.
We are going to launch an in depth response after investigations conclude.
— Unibot (@TeamUnibot) October 31, 2023
Learn UniBot’s [UNIBOT] Value Prediction 2022-23
UniBot falls to hackers
In accordance with the workforce, the assault was attributed to a token approval exploit inside their new router. The router has been quickly halted in response to the breach.
The workforce’s publish additionally reassured customers that any funds misplaced because of the hack can be reimbursed.
Later, a publish from Lookonchain estimated how a lot has been stolen by the hacker. On the time of writing, it was estimated that the full worth of stolen funds had exceeded $600,000.
A hacker attacked @TeamUnibot and is stealing the property of customers.
As of now, the stolen property have exceeded $600K.
Should you use #Unibot, please transfer your funds to different wallets or revoke approvals of the contract as quickly as doable.
0x126c9FbaB3A2FCA24eDfd17322E71a5e36E91865 pic.twitter.com/ioObZ3WAyR
— Lookonchain (@lookonchain) October 31, 2023
UniBot features as a Leveraged Liquidity Provision (LLP) platform. The Telegram buying and selling bot allows customers to commerce numerous cryptocurrencies by permitting them to offer a single asset and borrow the unstable asset from the UniBot Pool.
The UNIBOT token assumes a big position on this ecosystem, offering customers with quicker transaction speeds. Moreover, the token gives advantages resembling yield farming rewards, governance rights, and lowered fuel charges to its holders.
UNIBOT suffers an enormous decline
The day by day timeframe chart for the UNIBOT token revealed a rising sense of concern, uncertainty, and doubt (FUD) round it. On the time of writing, the token had skilled a big drop of greater than 17%, buying and selling at roughly $44.
Whereas there had been earlier declines within the days main as much as press time, the latest decline marked probably the most substantial one in over a month.
The severity of this decline was additionally evident within the development of its Relative Energy Index (RSI). As of this writing, it had fallen beneath 40, indicating a powerful bearish development.
Supply: TradingView
How a lot are 1,10,100 UNIBOTs value at the moment?
If the hack persists and extra funds are misplaced, there’s a chance that the token’s worth could lower even additional by the top of the day.
TVL stays the identical for now
Primarily based on knowledge from DefiLlama, it appeared that Unibot’s Complete Worth Locked (TVL) had not but been affected by the hack. On the time of this report, the TVL nonetheless stood at over $700,000.
