Banana Gun Hack Makes Users Lose $2 Million
2024-09-20
Bittime - Banana Gun Hack Costs Users $2 Million. On Thursday, users of the Telegram-based trading bot Banana Gun reported massive losses due to a serious security breach that occurred on the bot.
Banana Gun Hack Leads to $1.9 Million Theft
According to reports from community members on platform X , the hackers managed to drain around 563 ETH , worth around $1.4 million , from 36 wallets using the bot.
However, recent data from Cointelegraph suggests that these loss figures are much higher.
According to Hakan Unal , a leader at security firm Cyvers , the hack involved nearly 11 actors who managed to steal up to $1.9 million in cryptocurrency. "Hundreds of users have been affected," Unal said.
Banana Gun Team Investigation and Response
The Banana Gun team, via their Telegram channel, announced that the bot has been temporarily disabled to conduct further investigations regarding this hack.
However, initial investigations found no evidence of vulnerabilities in the bot's smart contract .
Community Reaction: Security Issues Bother Users
Users were frustrated by the incident, with many complaining about the Banana Gun team's handling of the hack.
They called for better communication and a more open approach in dealing with this situation.
What is Banana Gun?
Banana Gun is a project that develops a trading bot on the Telegram platform, operating on the EVM and Solana networks .
The platform aims to help users execute snipe token trading strategies , as well as monitor the launch of new token projects.
All of the accounts affected by the hack were users of this automated bot, and the incident comes just under two weeks after the re-emergence of the malicious crypto toolkit Angel Drainer .
Conclusion
This breach adds to a long list of security issues in the crypto world, making users increasingly wary of security risks in automated trading bots.
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