Originally published on: September 19, 2024
The users of the Telegram-based cryptocurrency trading bot Banana Gun are the latest victims of a major hack, losing nearly $2 million in digital assets. This popular bot allows Telegram users to trade on various blockchains like Ethereum, Solana, and Base.
According to Hakan Unal, the Senior Security Operations Center lead at onchain security firm Cyvers, at least 11 attackers managed to drain a total of $1.9 million from the bot’s users. The hackers targeted the wallets of 36 victims, as reported by pseudonymous crypto investigator Yannick Crypto.
This incident comes on the heels of a significant hack at WazirX, an Indian cryptocurrency exchange, where over $230 million was stolen. Despite concerns about a wider smart contract vulnerability, experts believe that the recent attack on Banana Gun Bot was limited to a small number of accounts.
It is uncertain whether this hack is connected to the notorious crypto drainer toolkit Angel Drainer, which recently resurfaced with a more advanced version. As cyber threats continue to evolve, experts warn that North Korean hackers, including the Lazarus Group, may shift their focus to larger targets like US-based Bitcoin ETFs due to the lucrative rewards they offer.
In an interview with Cointelegraph, Michael Pearl, Vice President of GTM Strategy at Cyvers, emphasized the need for heightened security measures in the face of growing cyber threats. As the cryptocurrency market expands, it is crucial for users and platforms to stay vigilant against potential security breaches.
