Coinfeeds Daily → Maestro Telegram Bot Hit by Major Security Breach

Maestro Telegram Bot Hit by Major Security Breach

Published: Oct 25, 2023 | Last Updated: Mar 17, 2024
Moyi Dang
A hacker coming for a man's Ethereum while the man is on his computer
Image: A hacker coming for a man's Ethereum while the man is on his computer

Over 280 ETH stolen due to a critical vulnerability; Maestro responds by freezing operations and refunding affected users

Maestro Telegram Bot Suffers Security Breach

The popular Telegram bot project, Maestro, recently experienced a significant security breach. This breach resulted in the theft of over 280 ETH, equivalent to $500,000. The breach was caused by a critical vulnerability in the Router2 contract, which allowed unauthorized transfers of assets.

Maestro swiftly responded to the issue by freezing all router operations. This move was intended to prevent further unauthorized transfers. However, tokens in certain liquidity pools will remain temporarily inaccessible while the company conducts an internal review.

Details of the Breach

The breach was a result of an exploit in the Router2 contract. This contract is a crucial component of the Maestro system, facilitating the transfer of assets. The exploit allowed unauthorized individuals to manipulate the contract, leading to the theft of a significant amount of ETH.

Maestro's Response and Refunds

In response to the breach, Maestro has confirmed that affected users will be refunded. The company has already refunded users a total of 610 ETH, worth over $1 million, to cover their losses. Some amounts were paid back in tokens, while others were refunded in ETH. This move has been appreciated by the users and has helped restore faith in the system.

Security Measures and Future Implications

Following the breach, Maestro has taken steps to enhance its security measures. The company froze all router operations to prevent further unauthorized transfers and is conducting an in-depth internal review. This incident serves as a reminder of the importance of robust security measures in the world of cryptocurrency and digital transactions.

Despite the breach, user wallets were not compromised, and the affected tokens have since recovered in value. Maestro continues to facilitate trades across multiple networks through its Telegram bot system, demonstrating resilience in the face of challenges.

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