According to the new reports, it seems that Unibot decided to confirm the exploit, and they also made sure to promise compensation to those affected.
Exploit has been confirmed
Unibot, a trading tool based on Telegram, announced today that it was affected by a “token approval exploit.”
The security analysts at PeckShield were the first to raise the alarm on October 31, stating in a post on X that approximately $580,000 worth of cryptocurrency was affected.
Unibot confirmed the exploit shortly after and issued a statement saying that they had experienced a token approval exploit on their new router and had paused the router to contain the issue.
The company further assured its users that their keys and wallets were safe and that any funds lost due to the bug on the new router would be compensated. Unibot also stated that they would release a detailed response after their investigations concluded.
News of the exploit triggered a sharp decline in the price of Unibot’s token, which was down 33% to $38.50 at the time of writing, according to CoinGecko data as noted by the online publication The Block.
The future of finance is approaching
Central Bank Digital Currencies (CBDCs) have emerged as a promising innovation, and the US Federal Reserve is making notable progress in this field.
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According to a recent study by the Monetary and Economic Department at the Bank for International Settlements, CBDCs are gaining traction among global central banks.
CBDCs can help stabilize the volatile crypto space and replace paper money as its use decreases.
