• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Telegram Vulnerability Causes $3M Loss for Banana Gun Users

user avatar

by Giorgi Kostiuk

a year ago


  1. Cause of the Incident
  2. Impact on Users
  3. Developers' Response

  4. A recent attack on the Banana Gun platform resulted in a $3 million loss for 11 victims. The cause was a vulnerability in the Telegram message oracle.

    Cause of the Incident

    The attack was linked to a vulnerability in the Telegram message oracle, a feature used for bot notifications. The Banana Gun team has since patched the issue and implemented new security protocols.

    Impact on Users

    The attack primarily targeted experienced crypto traders with a strong social presence. Victims reported witnessing ETH being manually transferred from their wallets while interacting with Banana Gun’s bots, and receiving notifications confirming the transfers in real time. While both the EVM and Solana bots were compromised, the attacks ceased once the bots were disabled.

    Developers' Response

    Banana Gun's developers summarized the incident in a statement, thanking users for their continued support despite the breach. "We are humbled by the incredible bot activity on Banana Gun, even after last week's incident. Thank you for your patience and trust," they said. After extensive investigation involving both the Banana Gun team and external experts, the vulnerability was traced to the Telegram message oracle, allowing attackers to gain access and manually withdraw funds from wallets.

    After identifying the vulnerability, Banana Gun developers successfully returned $3 million to the affected users and continue to work on improving the platform's security.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

The Power of Emini S&P 500 Futures for High-Frequency Traders

chest

Emini S&P 500 futures contracts offer significant leverage, making them attractive for high-frequency trading, but also come with risks that require strict risk management.

user avatarLuis Flores

15 Essential Strategies for Accelerating S&P 500 Futures Profitability

chest

A comprehensive report outlines 15 strategies that professional traders use to enhance profitability in S&P 500 futures trading.

user avatarArif Mukhtar

Asia's Regulatory Frameworks Impact Digital Asset Custody

chest

Asia's regulatory frameworks are evolving, impacting digital asset custody services across Singapore, Hong Kong, Japan, and South Korea.

user avatarJacob Williams

Exploring Diverse Custody Models in Digital Assets

chest

The digital asset custody market features three primary models: traditional custodians focused on safekeeping, hybrid models offering integrated services, and technology providers delivering SaaS solutions.

user avatarMaria Gutierrez

Digital Asset Custody Market Set for Significant Growth

chest

A recent report by Tiger Research highlights the rapid growth of the digital asset custody industry, projecting an increase of over 50% from USD 447.9 billion in 2022 to USD 683 billion in 2024.

user avatarDavid Robinson

Custody Industry's Evolution After Mt Gox Incident

chest

The custody industry has evolved significantly since the 2014 Mt Gox incident, leading to improved regulatory frameworks for digital asset custody.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.