Banana Gun - Rekt
Banana Gun slipped on a $3 million Telegram peel, proving once again that in DeFi, even your bot can go bananas.
Another day, another protocol got caught with its pants down.
Banana Gun, the supposedly secure Telegram trading bot, got royally split.
On September 19th, while most of us were busy watching charts go sideways, some Banana Gun users found their wallets being peeled faster than a chimp on speed.
This fruit fiasco started with a rumor of a few wallets going bananas, but quickly ripened into a full-blown plantain panic.
Initially reported as a $1.9M slipup affecting 36 users, this bunch of bad news eventually grew to a $3M whopper impacting 11 very unhappy campers.
Talk about your garden-variety FUD bearing some seriously rotten fruit.
Banana Gun users found themselves in the crosshairs of a potassium-powered misfire.
As refund promises fly, one wonders: in DeFi, is "secure" just code for "not yet hacked"?
Credit: Yannick Crypto, Banana Gun, Maestro Bot, Unibot
The Banana Gun drama unfolded like a badly peeled banana, leaving a mess of questions and a slippery trail of lost funds.
Crypto canary, Yannick, first chirped the alarm:
"There is rumour that Banana Gun wallet's getting drained right now. But there is rumour that there are much more victims."
Yannick spotted the first brown spot, but even he couldn't predict how quickly this bunch would spoil.
As the crypto-sphere buzzed with the sweet scent of fresh FUD, initial reports suggested 36 users had been taken to the cleaners for a cool $1.9 million.
When the last wallet was squeezed and the final digit drained, the true extent of the damage emerged: 11 users, $3 million gone.
Fewer victims, bigger wounds. Talk about a concentrated potassium punch.
The attack, exploiting a novel vulnerability in the Telegram message oracle, hit both Ethereum and Solana bots.
Talk about shooting yourself in the foot with a banana.
Seems like cross-chain compatibility is the ultimate equal opportunity exploiter. Who said innovation in crypto was dead?
As the banana peels settled, the Banana Gun team sprung into action like a bunch of caffeinated monkeys.
Their first move? Shut down the Ethereum and Solana bots faster than you can say "rug pull."
At least someone had the presence of mind to stop the bleeding, even if it was a case of too little, too late.
The attack, it turns out, was more surgical than a monkey with a scalpel.
It targeted smart money traders and crypto veterans - you know, the ones who are supposed to know better.
All victims were "known" in the space, either due to their social presence or trading expertise. Seems like fame in crypto comes with a price tag these days.
In a twist worthy of a Christopher Nolan film, the victims watched in real-time as the attacker manually transferred ETH from their wallets.
Talk about interactive entertainment! As if watching your portfolio during a bear market wasn't painful enough.
Banana Gun's incident report reads like a who's who of security measures they should have had in the first place.
Two-factor authentication? Check. Transfer delays? You bet. Thorough system reviews? Of course!
It's amazing how a $3 million loss can suddenly make basic security look attractive.
Seems like their security was as effective as bringing a banana to a gunfight.
The cherry on top of this banana split?
The promise of full refunds from the Banana Gun treasury. No token sales necessary, they assure us.
Because nothing says "we've got this under control" like emptying your war chest to cover a hack.
As for the root cause, Banana Gun points the finger at a "potential vulnerability in the Telegram message oracle.”
Potential, they say, as if there might be another explanation for $3 million vanishing into thin air. Maybe it was just a very convincing magic trick?
In a twist worthy of a blockbuster heist film, Banana Gun wasn't the only bot feeling the heat that day.
Reports surfaced of similar exploits targeting Maestro Bot and Unibot.
Maestro Bot lost $200k to a suspicious wallet, while Unibot acknowledged an "ongoing exploit."
Coincidence? Or a coordinated attack on the bot brigade?
Curiously, neither Maestro Bot nor Unibot have released detailed incident reports.
Maestro Bot tried to downplay the FUD, stating “We haven't received 1 single complaint from any of our users getting their funds stolen.”
It's like they're all competing in the "Who can say the least about losing the most" championship.
While these bots play their cards close to their chests, a larger question looms over the DeFi landscape.
Could this Telegram oracle exploit be the first tremor of a seismic shift in DeFi vulnerabilities?
Only time will tell if this slip-up will land Banana Gun in the annals of epic crypto fails or if it'll rise from the ashes like a phoenix... or should we say, like a banana tree from compost.
The Telegram oracle exploit has peeled back the layers on a possible new breed of vulnerability, one that could make centralized chat platforms the next juicy target for DeFi predators.
As trading bots proliferate faster than yield farmers at an airdrop, they're serving up a smorgasbord of attack vectors on a silver platter.
In the end, Banana Gun users learned a hard lesson: when your financial fruit goes ballistic, it's your wallet that gets juiced.
Banana Gun's quick reflex to shut down the bots may have stemmed the bleeding, but it left a $3 million shaped hole in their credibility.
Their promises of refunds and security upgrades sound great on paper, but so did UST's "algorithmic stability."
Meanwhile, the radio silence from Maestro Bot and Unibot speaks volumes.
Are they frantically patching similar vulnerabilities, or just hoping nobody notices their own bruised fruits?
As trading bots and chat platforms become the new playground for DeFi predators, how long until "gm" becomes shorthand for "give me your money"?
REKT serves as a public platform for anonymous authors, we take no responsibility for the views or content hosted on REKT.
donate (ETH / ERC20): 0x3C5c2F4bCeC51a36494682f91Dbc6cA7c63B514C
disclaimer:
REKT is not responsible or liable in any manner for any Content posted on our Website or in connection with our Services, whether posted or caused by ANON Author of our Website, or by REKT. Although we provide rules for Anon Author conduct and postings, we do not control and are not responsible for what Anon Author post, transmit or share on our Website or Services, and are not responsible for any offensive, inappropriate, obscene, unlawful or otherwise objectionable content you may encounter on our Website or Services. REKT is not responsible for the conduct, whether online or offline, of any user of our Website or Services.
you might also like...
Digital Danger
As digital riches skyrocket, so too do opportunistic predators, emerging from the dark corners of cyberspace into our reality. Welcome to the new wild west, where your seed phrase might just be the combination to your coffin. Is your crypto making you a target?
Bedrock - Rekt
Bedrock just got a lesson in why you should always double-check your math homework. In a twist that would make even a quantum physicist's head spin, their uniBTC vault decided to play fast and loose with exchange rates, turning Ethereum deposits into a $2m Bitcoin bonanza.
Onyx Protocol - Rekt II
Another Compound v2 fork that just can't catch a break, Onyx Protocol, has been exploited again. This time, the damage tally stands at a cool $3.8 million, siphoned off by the same high-profile vulnerability that bit them late last year.