Banana Gun Pledges to Pay Back Victims of $3 Million Exploit

After a $3 million exploit, Banana Gun, one of the most widely used Telegram trading bots, released an incident report with plans to pay back affected users from the treasury.

The team said, "all impacted users will be fully refunded from the Banana Gun treasury, with no tokens being sold for reimbursements.”

The team said it identified a potential vulnerability in its Telegram message oracle that “may have led to the exploit,” which impacted 11 users.

In response to the attack, Banana Gun halted its bot services and is implementing new security measures, including two-factor authentication (2FA) and a two-hour transfer delay.

The Banana Gun bots are back online with no restrictions outside of its new transfer delay function.

In a social media post, Banana Gun clarified that the attack affected both EVM and Solana-based bots despite their independent codebases.

Banana Gun bot is one of the top Telegram trading bots, averaging 4,000 daily active users over the last six months, according to TokenTerminal.

The protocol launched its official token, BANANA, via a whitelist-only presale in September 2023 and is up over 350% from its post-launch price. BANANA currently sits at $40 per token after reaching an all-time high of $71 on July 18.

Banana Gun is also one of the top earners in DeFi, earning $2.4 million in the last 30 days alone, making it the 19th highest revenue generator according to DeFiLlama.