Maestrobots, a group of cryptocurrency bots on the Telegram messenger, refund users has refunded users 610 ETH in the aftermath of a 280 ETH smart contract exploit on Oct. 24.
The Maestro team refunded users affected by the Maestro Router 2 contract, X (formerly Twitter) announced on October 25. According to the announcement, Maestrobots paid a total of 610 ETH from its revenue to cover all user losses, which at the time of writing was worth more than $1 million.
“Each wallet that lost tokens as a result of the router exploit has now received the total amount of tokens they lost.” Some of you wound up with even larger bags,” wrote Maestro.
The Maestro team noted that certain quantities had been refunded in affected tokens and ETH. Maestro chose to acquire and refund nine out of eleven exploited tokens rather than sending ETH because “it’s the most equitable and complete refund” it could provide. “We spent 276 ETH to secure our users’ tokens,” Maestro explained.
Users of the other two exploited tokens, including JOE and LMI, were refunded in ETH, according to Maestro, who cited a lack of liquidity to purchase back the stolen tokens. The statement continued:
“So we compensated affected users with the ETH equivalent of their tokens, and boosted that amount by 20% because you deserve it. These refunds cost 334 ETH.”
CertiK, a blockchain security company, has verified that it has been able to detect the transactions demonstrating the 334 ETH compensation paid to users by Maestro.
The refunds occurred shortly after Maestro reported that the MaestroRouter on the ETH mainnet had been compromised on October 24, allowing hackers to steal approximately 280 ETH in exploited tokens, which were worth roughly $485,000.
The Maestro team reported that it identified the attack 30 minutes after its initiation and completely removed the exploit. In addition, the platform rapidly resumed trading after temporarily suspending token pools on SushiSwap, ShibaSwap, and ETH PancakeSwap.
“Wallets were not at all compromised during this attack. This was directed solely at the Router,” wrote Maestro.
According to CertiK’s executive summary, Maestro’s smart contract breach affected 106 user addresses in total. MOG, LMI, JOE, BANANA, OGGY, JIM, ETF, LP, APU, Real Smurf Cat, and PROPHET were among the tokens affected.
“The majority of these tokens increased in value due to the expectation that we would purchase them on the market. The majority of these tokens are still active,” a Maestrobots representative informed Cointelegraph.
Maestro, also known as MaestroBots on X, is a Telegram bot that facilitates trades on three networks, including Ethereum, BNB Chain, and Arbitrum, with a transaction charge of 1% by default.
The Maestro bot system includes the Maestro Whale Bot, Maestro Sniper Bot, and Maestro Wallet Bot. At the time of writing, the Maestro Bots Hub Telegram channel has more than 100,000 subscribers, while its X account has more than 24,000 followers.
