Telegram's Maestro Bot Hit By $500,000 ETH Heist Due To Contract Vulnerability
Portfolio Pulse from Khyathi Dalal
Telegram's Maestro bot, one of the largest in the ecosystem, suffered a security breach leading to the theft of over 280 Ether (ETH), worth around $500,000. The breach was due to a vulnerability in its Router2 contract, which was designed to manage logic for token swaps. The stolen ETH was transferred to cross-chain exchange platform Railgun to obscure their origin. The issue has been addressed, but token access in liquidity pools on certain DEXs, including SushiSwap, ShibaSwap, and ETH PancakeSwap, will remain temporarily inaccessible.
October 25, 2023 | 9:07 pm
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The security breach of Telegram's Maestro bot led to the theft of 280 Ether (ETH), worth around $500,000. This incident highlights the security risks associated with cryptocurrencies and could potentially impact investor confidence in Ether.
The theft of a significant amount of Ether due to a security breach could negatively impact investor confidence in the security of the cryptocurrency, potentially leading to a decrease in its price in the short term.
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