News Report Technology
October 25, 2023

Maestro Trading Bot’s Security Compromised, Loss of 281 ETH Reported

In Brief

The Maestro trading bot became the target of a cyber-attack, resulting in a loss of roughly 281 ETH because of a security oversight.

Maestro Trading Bot's Security Compromised, Loss of 281 ETH Reported

The Maestro trading bot found itself in the crosshairs of a cyber-attack, which saw an approximate 281 ETH siphoned off due to a security lapse.

A specific vulnerability in the Router 2 contract of Maestro was the weak link that the attacker exploited. The attacker transferred tokens to their own wallet, specifically those with prior approval on this particular contract. After selling these tokens, the attacker laundered the proceeds by converting them into ethers and used the RailGun mixer to hide their tracks.

The insights shared by @MaestroBots on Twitter delve into the technical intricacies of the attack. The Router 2 contract of Maestro, interestingly, functions akin to an ERC1967-like proxy. It delegates its operations to another address, responsible for overseeing the logic related to swaps and incentivizing block builders.

However, the crux of the breach was an exposed function on the router. This function, when invoked, deferred to its designated implementation and allowed the attacker a pathway to pilfer tokens directly from unsuspecting users through the transferFrom method.

A deeper investigation into the proxy implementation contract, aided by tools like @dedaub’s contract decompiler, revealed that this susceptible function essentially greenlit arbitrary calls on the token contract. This opened the door for the attacker, who cleverly used this function to execute the ‘transferFrom’ method, targeting token-holders, swiftly accumulating the tokens and subsequently converting them into ETH.

Response & Community Reactions

Acting swiftly post the security breach, Maestro’s team replaced the compromised router’s implementation with a placeholder Counter contract within half an hour. This proactive step ensured the immediate cessation of the router’s operations, curbing any further unauthorized transfers or losses.

Despite these efforts, the Maestro community remains rife with tension. Several users on Twitter are voicing their demands, expressing their preference for a reimbursement in tokens rather than ETH, especially given the tokens’ potential future value.

For those keen on a more detailed dissection of this incident, references to the technical aspects and transactional data can be found on Phalcon’s transaction explorer. The Maestro team is in active deliberation regarding restitution for the affected users.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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