Telegram trading bot Maestro refunds users 610 ETH after router exploit

Maestrobots, a group of cryptocurrency bots on the Telegram messenger app, is refunding users due to a 280 Ether (ETH) attack.

The Maestro team has issued refunds to users affected by the Maestro Router 2 contract, the platform announced on X (formerly Twitter) on October 25. According to the announcement, Maestrobots paid out a total of 610 ETH of its own revenue to cover user losses. , worth over $1 million at the time of writing.

“The wallet that lost the token in the router exploit has now received the full amount that was lost. Some of you had bigger wallets,” Maestro wrote.

The Maestro team has observed refunds for some amounts of affected tokens and ETH. For the nine exploit tokens, Maestro chose to buy and return tokens instead of sending ETH because it was “a more fair and complete refund”. “We spent 276 ETH to secure our users' tokens,” Maestro added.

The affected tokens of the other two exploits – including JOE (JOE) and Lockheed Martin Inu (LMI) – were refunded in ETH, Maestro said, citing a lack of liquidity to buy back the lost tokens. The announcement added:

“So we compensated the affected users with their tokens in ETH, and we increased that amount by 20% because you deserve it. These refunds cost 334 ETH.”

CertiK Blockchain security firm has confirmed to Cointelegraph that it has access to transactions that show the 334 ETH compensation paid to users from Maestro.

The refund came after Maestro reported a bug in the MaestroRouter on the ETH mainnet on October 24, which allowed hackers to deposit 280 ETH in exploited tokens, worth around $485,000 at the time of the hack. Maestro's team claimed to have identified and completely removed the attack within 30 minutes of its launch. The platform resumed trading quickly, temporarily suspending pools on SushiSwap, Shibaswap and ETH Pankeswap.

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“No wallets were attacked during this attack. It was only directed at the router,” Maestro wrote.

According to Certike's executive summary, the Maestro smart contract breach affected a total of 106 user addresses. Affected tokens include LMI, JOE, Mog Coin (MOG), ApeSwap (BANANA), Oggy inu (OGGY), Jim (JIM), Liquid Protocol (LP), Real Smurf Cat (BSC) and Prophet (Prophet) – among others. .

“Most of the tokens went up on the assumption that we will buy the tokens on the market. Most of these tokens are still alive and kicking,” a Maestrobots spokesperson told Cointelegraph.

Maestro, also known as MaestroBots on X, is a Telegram bot that facilitates trading on three networks, including Ethereum, BNB Chain and Arbitrum, with a default transaction fee of 1%. The Maestro bot system has three different bots including Maestro Whale Bot, Maestro Sniper Bot and Maestro Wallet Bot. The Maestro Bots Hub Telegram channel has over 100,000 subscribers as of this writing, and the X account counts over 24,000 followers.

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