Unibot Confirms Being Exploited, Token Drops Over 30%

A token approval exploit causes Unibit to lose over $600k while its token plunges more than 30% within an hour.

Last updated: February 12, 2024 4:48 AM

Published October 31, 2023 7:52 AM

Last updated: February 12, 2024 4:48 AM

Published October 31, 2023 7:52 AM

Crypto trading-bot, Unibot has confirmed that it was exploited on October 31, reportedly losing more than $600k.

Unibot announced that the incident happened due to a token approval exploit from a new router. The router is currently paused, and the team is investigating the hack. It is further said that funds lost in this exploit will be compensated to users.

We experienced a token approval exploit from our new router and have paused our router to contain the issue.

Any funds lost due to the bug on our new router will be compensated. Your keys and wallets are safe.

We will release a detailed response after investigations conclude.
— Unibot (@TeamUnibot) October 31, 2023

Lookonchain, an onchain analysis firm, noted the ongoing hack and asked users to move out funds and revoke approvals from the bot-associated contracts.

According to data from DeBank, the hacker has stolen approximately $639k from Unibot users.

Unibot Exploiter - Debank — *Unibot Exploiter – DeBank*

Following the exploit, the native UNIBOT token has dropped more than 30% within an hour, according to data from Coinmarketcap. The hacker has now transferred all the funds to Tornado, a crypto mixer to erase tracking of funds.