A cryptocurrency bot group on the Telegram app, Maestro, has refunded users who fell victim to a recent attack that saw the loss of 280 Ether (ETH), valued at $1,792 per ETH.
The attack targeted the Maestro Router 2 contract. In response, Maestro used its own revenue to refund affected users, totaling 610 ETH, which was worth over $1 million at the time.
The platform ensured that every wallet that lost tokens in the attack received a full refund, and some users even ended up with more tokens than they lost. Maestro opted to buy and refund tokens instead of sending ETH to ensure fairness.
They spent 276 ETH to secure users’ tokens. However, two tokens, Joe (JOE) and Lockheed Martin Inu (LMI), were refunded in ETH with 20% boost because there was not enough liquidity to repurchase the lost tokens. These refunds amounted to 334 ETH.
Blockchain security firm CertiK confirmed the transactions showing the 334 ETH compensation paid to users. The attack on Maestro’s smart contract affected 106 user addresses and several tokens, but most of them recovered in value.
The attack took place on October 24, but Maestro swiftly detected it within 30 minutes and removed the exploit. The platform temporarily halted trading for some tokens on platforms like SushiSwap, ShibaSwap, and ETH PancakeSwap during this time.
Notably, the attack only targeted the Router and did not compromise users’ wallets. Maestro operates as a Telegram bot, facilitating cryptocurrency trades across different networks.