👾 Telegram crypto bots Maestro rekt ~ Interesting Aftermath

HashingBits | Week- 43

In brief ⚡

• Maestro Bot ( router ) suffered an attack leading to a loss of approx 280ETH. The aftermath involved bots refunding approx 610 ETH ( $ 1 Million ) to cover user losses.

  

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Hacks and Scams⚠️

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Maestro Bot

Amount of Loss:  ~ $503k

Analysis

• Maestrobots, a group of cryptocurrency bots on Telegram, is refunding users after a 280 ETH attack.

• The attack occurred on the Maestro Router 2 contract, leading to losses of approximately $485,000.

• Maestrobots refunded affected users, totaling 610 ETH, which is worth more than $1 million.

• Some refunds were made in the form of affected tokens and ETH, with a 20% boost for fairness.

• CertiK, a blockchain security firm, confirmed the 334 ETH compensation transactions to users.

• The attack impacted 106 user addresses and several tokens, but most tokens recovered due to market expectations of token buybacks by Maestrobots.

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Explore the Depths of Knowledge: Research Papers, Blogs and Tweets🔖

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Tweets

1. I analyzed how the number of High/Medium findings correlates with the payout for the @code4rena  Top 20 Auditors.

2.   realized there were some distinct phases in my auditing journey

3.  One of the top #Bitcoin developers recently discovered a massive security risk in the Lightning Network, which triggered him to announce his departure from the project.

4. ⚠️ Attention security researchers & protocol developers ⚠️

5. Since the spring, @Paradigm ’s @samczsun  and I have been orchestrating drills with various protocol teams. Our goal? Practicing detection, diagnosis, and swift response during emergencies. Here's the approach

GitHub Repos

1. awesome-MEV-resources 

Articles 

1. A Deep Dive Into Leverages in DeFi Borrowing, Margin Trading, Leveraged Tokens and Options: FinNexus

2. The Framework to help you securing your protocol

3.  Decentralized Sequencers & QBFT 

4. The ultimate security checklist

5.  How to become a smart contract auditor & bugbounty-hunter

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Web3 Community Spotlight🔦

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Note - all the respective links has been embedded in the image

This week, we analyzed how a simple attack vector when combined with creativity, spits our a high severity.

Solidity 0.8.22 just released. Check out our analysis on this!

Can you believe what went down in 2023?  We’re talking about over $1.2M in losses washed away in the NFT

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