Banana Gun Announces Updates After $3M Attack: What’s New?
Restoring Services and Enhancing Security After Banana Gun Attack
On September 25, the Banana Gun Telegram bot project has announced significant updates following a recent attack that affected 11 users, resulting in a loss of $3 million. The project assured that all affected users will be fully compensated without selling any tokens, drawing the compensation from the Banana Gun Treasury instead.
Banana Gun Attack: Details Overview
The security breach, which occurred on September 19, 2024, targeted smart money traders and crypto veterans known for their social media presence and trading expertise. These users witnessed the attacker manually transferring Ether (ETH) from their wallets while interacting with the bot and receiving notifications.
The attack exploited a vulnerability in the Telegram message oracle used by the project, allowing the hackers to execute unauthorized transfers.The Banana Gun team promptly shut down the bots following the incident and initiated a thorough investigation involving external experts and their development team. The investigation confirmed that the breach was a manual transfer, and the victims were notified of the transfer within the robot.
Restoring Services and Enhancing Security
On September 25, Banana Gun released an update on X (formerly Twitter), informing users that the EVM and Solana bots were restored online with only a 2-hour transfer delay. The team has implemented several new security measures to prevent future incidents. These measures include:
Implemented 2-hour transfer delay for added security.
Adding two-factor authentication (2FA) for all transfers.
Conducting comprehensive reviews of both back-end and front-end systems.
Redeploying the back-end and switching to new servers to enhance security.
Collaborating with Security Alliance, a leading Web3 security team, for the investigation.
Planning additional audits and pentesting for their web app and Telegram bots.
Banana Gun's commitment to security is evident in their proactive steps to address the vulnerability and ensure user safety. The project emphasized that the compensation to the victims would not involve selling tokens, maintaining the integrity of their tokenomics.
The attack highlighted the need for robust security measures in the rapidly evolving DeFi space. The Banana Gun team has taken decisive action to rectify the situation and reassure their community of their commitment to security and transparency.
Despite the setback, Banana Gun's swift response and comprehensive security enhancements have reinforced community trust. The project’s decision to compensate affected users and upgrade their security infrastructure demonstrates their dedication to user protection and platform integrity.
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