- The R Roundup
- Posts
- RRUPDATES📍: MaestroBots Swift Response - Refunding Users 610 ETH After Router Exploit 🤖
RRUPDATES📍: MaestroBots Swift Response - Refunding Users 610 ETH After Router Exploit 🤖
In a commendable move, Maestrobots, the cryptocurrency bot group on Telegram, swiftly responded to a security breach, refunding users a substantial sum of 610 ETH after a recent exploit.
The R Roundup
October 25, 2023
RRUPDATES📍: MaestroBots Swift Response - Refunding Users 610 ETH After Router Exploit 🤖
In a commendable move, Maestrobots, the cryptocurrency bot group on Telegram, swiftly responded to a security breach, refunding users a substantial sum of 610 ETH after a recent exploit.
This incident, which occurred on October 24, saw the Maestro team taking immediate action, ensuring none of their users suffered long-term losses. Here's how Maestro's efficient handling of the situation unfolded.
MaestroRouter on ETH mainnet, fell victim to an exploit, resulting in the siphoning of around 280 ETH in various tokens. Despite the sophisticated nature of the attack, Maestro's team detected the breach within 30 minutes and promptly removed the exploit. It is important to note that this attack was directed solely at the Router, and user wallets remained uncompromised throughout the incident.
Maestro responded with integrity, announcing on social media platform X that they would refund all affected users. The affected tokens included prominent ones like LMI, JOE, MOG, BANANA, OGGY, JIM, LP, BSC, and PROPHET, among others. Maestro utilized their own revenue, a total of 610 ETH, valued at over $1 million at that time, to reimburse users.
🌟 Wrapping up the Exploit Saga
➡️ First things first:
Maestro: Router 2 was exploited about 10 hours ago on ETH Mainnet, and some tokens (not ETH) were siphoned away. Within 30 minutes of the start of the attack, our team identified and fully removed the exploit. If you're… twitter.com/i/web/status/1…
— Maestro🤖🤖 (@MaestroBots)
Oct 25, 2023
Maestro went beyond mere repayment; for the nine tokens that faced liquidity issues, they opted to buy and refund tokens, ensuring the most equitable resolution for their users.
To compensate users for the lack of liquidity in two tokens, JOE and LMI, Maestro chose a creative approach. They provided affected users with the ETH equivalent of their tokens and further boosted the amount by 20%, demonstrating their commitment to customer satisfaction.
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies.
This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
Join the conversation