Banana Gun Hack Costs Users Nearly $2M

Key Points:

• The Telegram-based trading bot Banana Gun was hacked, leading to the theft of approximately $1.9 million in cryptocurrency from users' wallets.
• Affected users have expressed frustration and are seeking more transparency and updates regarding the Banana Gun hack.

This Thursday, the users of the Telegram-based trading bot Banana Gun have reported heavy losses once the severe security breach occurred in the bot.

Read more: Scam Alert: Fake Banana Gun Airdrops Are Circulating

Banana Gun Hack Results in $1.9 Million Theft

Community members exposed on X that attackers siphoned off about 563 ETH, worth almost $1.4 million from 36 unique wallets of the bot.

Further updates from Cointelegraph put the figure far higher in Banana Gun hack. In an update provided by Hakan Unal, senior security operation center lead at the on-chain security firm Cyvers, nearly 11 attackers have made away with $1.9 million in cryptocurrency to date. "Hundreds of users have already been affected," said Unal.

According to a post on its Telegram channel, the Banana Gun team has taken the bot offline for the time being, pending an investigation into the breach. Investigations so far have not found any evidence of a wider vulnerability in the bot's smart contracts.

Ongoing Banana Gun Security Issue Sours Mood in User Community

The users have felt frustrated with the Banana Gun hack, and there are complaints as to how it was handled by the team, requesting better communication and a more open way.

Banana Gun is a project that develops Telegram trading bots on EVM and Solana networks. The platform focuses on supporting users to execute token snipe trading strategies, while also monitoring and evaluating upcoming token launch projects.

All the compromised accounts had belonged to users of the automated trading and token launches bot. It came less than two weeks after the resurgence of the crypto toolkit Angel Drainer, with malicious applications lately being deployed using it.