In the wake of an unfortunate incident on October 24, Maestrobots, a collective of cryptocurrency bots operating on the Telegram messaging platform, has taken action. They have initiated the process of reimbursing affected users who fell victim to a smart contract exploit, resulting in the loss of 280 ETH, equivalent to $1,793.
The Maestrobots team promptly announced their decision to refund users impacted by the Maestro Router 2 contract breach via X (formerly known as Twitter) on October 25. In their public statement, Maestrobots disclosed their commitment to restore all user losses, amounting to 610 ETH, a sum exceeding one million dollars at the time of this message.
“Every wallet that suffered losses in the router exploit has been made whole again. In some cases, users even saw an increase in their holdings,” Maestro reported.
It is noteworthy that Maestrobots opted to refund some users in the form of affected tokens and ETH. To ensure a fair and comprehensive reimbursement, they chose to purchase and return tokens for nine out of the eleven exploited tokens, investing a total of 276 ETH to secure their users’ holdings.
As for users affected by the remaining two exploited tokens, namely Joe (JOE) and Lockheed Martin Inu (LMI), Maestrobots refunded them in ETH due to a lack of liquidity for repurchasing the lost tokens. They also sweetened the deal by adding 20% to the ETH equivalent of the tokens. These refunds amounted to 334 ETH.
CertiK, a blockchain security firm, has independently verified and confirmed the transactions involving the 334 ETH compensation distributed by Maestro to affected users.
These actions were taken shortly after Maestro’s announcement that the MaestroRouter on the ETH mainnet had been compromised, resulting in the unauthorized withdrawal of approximately 280 ETH in exploited tokens, valued at around $485,000 at the time of the incident. Maestrobots identified and resolved the attack within a mere 30 minutes of its commencement, ensuring the security of user wallets. Trading on the platform resumed promptly, with only a temporary pause in tokens associated with SushiSwap, ShibaSwap, and ETH PancakeSwap pools.
It’s important to note that this attack exclusively targeted the Router, and user wallets remained uncompromised throughout the incident.
CertiK’s executive summary reveals that a total of 106 user addresses were affected by the Maestro smart contract breach. The list of impacted tokens includes LMI, JOE, Mog Coin (MOG), ApeSwap (BANANA), Oggy inu (OGGY), Jim (JIM), Liquid Protocol (LP), Real Smurf Cat (BSC), and Prophet (PROPHET), among others. Notably, many of these tokens showed resilience in the market, largely due to the anticipation of Maestrobots’ token purchases.
Maestro, also known as MaestroBots on X, operates as a Telegram bot, enabling trading across three networks: Ethereum, BNB Chain, and Arbitrum, with a standard transaction fee of 1%. The Maestro bot system comprises three distinct bots: the Maestro Whale Bot, the Maestro Sniper Bot, and the Maestro Wallet Bot. As of now, the Maestro Bots Hub Telegram channel boasts over 100,000 subscribers, and their X account has amassed more than 24,000 followers.