The Banana Gun Telegram automation project has announced substantial revisions on September 25, in response to a recent attack that resulted in a loss of $3 million and affected 11 users.
Smart money traders and crypto veterans well-known for their trading expertise and social media presence were the targets of the security compromise that transpired on September 19, 2024. While engaging with the agent and receiving notifications, these users observed the perpetrator manually transferring Ether (ETH) from their wallets.
The hackers were able to implement unauthorised transactions by exploiting a vulnerability in the Telegram message oracle that the project was using.The Banana Gun team promptly terminated the bots in the aftermath of the incident and commenced a comprehensive investigation that included their development team and external experts. The investigation verified that the violation was a manual transfer, and the victims were informed of the transfer within the automaton.
Banana Gun issued an update on X (formerly Twitter) on September 25, informing users that the EVM and Solana proxies had been reinstated online with a mere two-hour transfer delay. In order to forestall future incidents, the team has implemented numerous new security protocols.
Banana Gun’s dedication to security is evident in their proactive measures to mitigate the vulnerability and guarantee user safety. The project emphasized that the compensation to the victims would not involve the sale of tokens, thereby maintaining the integrity of their tokenomics.
In the swiftly evolving DeFi space, the assault underscored the necessity of comprehensive security measures. The Banana Gun team has implemented a firm strategy to address the issue and reassure their community of their dedication to transparency and security.
Banana Gun’s prompt response and comprehensive security improvements have bolstered community confidence, despite the setback. By compensating affected users and upgrading their security infrastructure, the project demonstrates their commitment to the integrity of the platform and the protection of its users.
Also Read: Court Requests Clarification from the SEC Regarding Coinbase Crypto Rule Petition
