Telegram Trading Bot Maestro Refunds Users 610 ETH
Maestrobots, a group of cryptocurrency bots on the Telegram messenger app, has refunded users affected by a 280 Ether attack. The Maestro team paid a total of 610 ETH in its own revenue to cover all user losses, worth more than $1 million.
The Maestro team noted that some amounts were paid back in affected tokens and ETH. For nine out of the 11 exploited tokens, Maestro chose to buy and refund tokens instead of sending ETH because it was the most equitable and complete refund it could offer.
The other two exploited tokens, Joe (JOE) and Lockheed Martin Inu (LMI), were refunded in ETH, citing a lack of liquidity to buy back the lost tokens. The refunds cost 334 ETH. Blockchain security firm CertiK confirmed that it has been able to detect the transactions showing the 334 ETH compensation paid out to users from Maestro. The MaestroRouter on ETH mainnet was compromised on October 24, allowing hackers to siphon around 280 ETH in exploited tokens, worth around $485,000 at the time of the hack.
(With inputs from Shikha Singh)
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