Maestro team reimburses users
Maestro, a group of cryptocurrency bots on the Telegram messenger, has decided to refund users after a recent attack that resulted in the loss of 280 Ether (ETH). The team refunded a total of 610 ETH, equivalent to more than $1 million, to cover all the user losses. Maestro stated that every wallet that lost tokens in the router exploit has now received the full amount they lost.
Tokens refunded in ETH and affected tokens
In the process of refunding users, the Maestro team chose to buy and refund tokens for nine out of the 11 exploited tokens, rather than sending ETH. They believed that this was the fairest and most complete refund they could offer. For the other two tokens, JOE and LMI, users were refunded in ETH due to a lack of liquidity to buy back the lost tokens. The team compensated affected users with the ETH equivalent of their tokens and added a 20% boost to the amount.
Blockchain security firm confirms refunds
CertiK, a blockchain security firm, confirmed that it detected the transactions showing the 334 ETH compensation paid out to users from Maestro. This verification adds credibility to the refund process and ensures that users have received their compensation.
Attack on MaestroRouter swiftly addressed
The attack on MaestroRouter, which occurred on Oct. 24, was quickly identified by the Maestro team within 30 minutes of its initiation. The exploit was fully removed, and trading on the platform resumed promptly. During the attack, wallets were not compromised; the breach was solely focused on the Router.
Smart contract breach affects 106 user addresses
The breach in Maestro's smart contract affected a total of 106 user addresses. The tokens impacted by the exploit include MOG, LMI, JOE, BANANA, OGGY, JIM, ETF, LP, APU, Real Smurf Cat, and PROPHET. Despite the attack, most of these tokens have seen a resurgence in value.
About Maestro
Maestro, also known as MaestroBots, is a Telegram bot that facilitates trades across three networks: Ethereum, BNB Chain, and Arbitrum. The platform features three different bots, each serving a specific purpose. At the time of writing, Maestro has a significant following, with over 100,000 subscribers on its Telegram channel and more than 24,000 followers on X (formerly Twitter).
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