UniBot, a popular Telegram bot used for Uniswap trading, recently experienced a security breach when a newly deployed contract was exploited. This resulted in the theft of approximately $560,000 worth of various meme coins from users.
The UNIBOT token, which is closely tied to the UniBot ecosystem, saw an immediate 42.7% drop in its price within an hour, plummeting from $57.56 to $32.94. This caused investors and token holders to be concerned about their assets.
At the time of reporting, there were indications of a recovery in the token’s price, however the incident undeniably rattled the market. UniBot responded by pledging to compensate users who suffered losses due to the exploit.
Scopescan advised affected users to revoke approvals for the exploited contract and transfer their funds to a more secure wallet. The hacker involved in the breach was observed converting the stolen meme coins into Ethereum (ETH), causing further concern among users.
Investigations are still underway, and UniBot has promised to release a detailed response after they conclude.
