• About Us
  • Careers
  • Contact
No Result
View All Result
Friday, June 27, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

Maestrobots Reimburses Users Over $1 Million After Ethereum Router Exploit

25 October 2023
in Latest News, News
Reading Time: 3 mins read
108 1
Home News Latest News

Maestrobots, a popular cryptocurrency trading bot group, has completed the refund process for users affected by a recent exploit on its Maestro Router 2 contract on the Ethereum blockchain. 

The group announced this development officially in a post on social media platform X on October 25, 2023. Maestrobots confirmed that it has fully compensated users and returned over 610 ETH (equivalent to more than $1 million) to those impacted by the router exploit that occurred on October 24.

🌟 Wrapping up the Exploit Saga

➡️ First things first:

Maestro: Router 2 was exploited about 10 hours ago on ETH Mainnet, and some tokens (not ETH) were siphoned away. Within 30 minutes of the start of the attack, our team identified and fully removed the exploit. If you’re…

— Maestro🤖🤖 (@MaestroBots) October 25, 2023

The hackers exploited an exposed function in the platform’s router, and siphoned tokens from users. Maestrobots was able to detect the attack within 30 minutes and replaced the compromised router’s implementation with a Counter contract. 

However, the exploit resulted in the loss of tokens worth about 280 ETH, valued at approximately $485,000 at the time.

In their announcement, Maestrobots emphasized their commitment to their users, assuring that every wallet that suffered losses due to the router exploit has been completely reimbursed and that some users received even more tokens than they initially had.

Maestrobots decided to repurchase and refund tokens for nine out of the 11 exploited tokens. They spent 276 ETH to safeguard users’ tokens. As for the remaining two tokens, JOE and LMI, refunds were issued in ETH, along with an additional 20% bonus, totaling 334 ETH in compensation. The group explained that this was the fairest way to provide comprehensive compensation for their users. 

During the resolution of the incident, Maestrobots temporarily suspended trading for tokens on platforms like SushiSwap, ShibaSwap, and PancakeSwap but resumed trading activities after confirming that the security breach was resolved. The whole incident was resolved,including the refund process, was completed within an impressive 10 hour period. 

According Maestrobots’s announcement, they compensated the affected the users in this manner because they “deserve it.”

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: Maestrobots
Share64Tweet40Share11
Previous Post

SEC Fines BlackRock $2.5M for Incorrect Investment Disclosure

Next Post

What Is a Dusting Attack and How Does It Work?

Olumide Samuel Ogunjobi

Olumide Samuel Ogunjobi

Olumide is a seasoned lecturer and accomplished DeFi research analyst with a wealth of experience. Having collaborated with numerous Web3 and FinTech startups, Olumide's primary expertise lies in aiding investors and newcomers in dissecting technical intricacies and noteworthy occurrences bridging the DeFi and TradFi realms.

Related Posts

source: wamda.com
Crypto

Resolv Protocol Repurchases Tokens Amid Market Drop, Denies Internal Sell-Off Rumors

27 June 2025
source: bristolcreativeindustries.com
Bitcoin

The Smarter Web Company Raises £41.2M points Following Major Bitcoin Purchase

27 June 2025
coincentral.com
Crypto

Upexi to Tokenize Shares on Solana, Expands Crypto Treasury Holdings

27 June 2025
source: thehackernews.com
Crime

Crypto Hack Losses Surge to $2.1 Billion in H1 2025, Led by Private Key and Front-End Attacks – TRM Labs

27 June 2025

Featured Posts

Has Web3 Failed to Protect the Core Innovations of Crypto and DeFi?

Has Web3 Failed to Protect the Core Innovations of Crypto and DeFi?

byOlajumoke Oyaleke
15 June 2025
0

Are Green Cryptocurrencies the Future of Blockchain Sustainability?

Are Green Cryptocurrencies the Future of Blockchain Sustainability?

byOlayinka Sodiq
12 June 2025
0

Web3 Gaming’s Scaling Crisis: Why Innovation Alone Isn’t Enough

Web3 Gaming’s Scaling Crisis: Why Innovation Alone Isn’t Enough

byOlayinka Sodiq
10 June 2025
0

What Is Price Slippage in Crypto & How Can You Avoid It

What Is Price Slippage in Crypto & How Can You Avoid It

byOlayinka Sodiq
4 June 2025
0

The Rise of Decentralized Identity Solutions in DeFi

The Rise of Decentralized Identity Solutions in DeFi

byOlayinka Sodiq
20 October 2024
0

Read More

Chain of Thoughts

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

What South Korea’s Crypto Strategy Signals for the Next Bull Run?

21 hours ago

Why Crypto Projects Are Choosing MiCA Over the US, Even With Regulatory Support on the Rise

21 hours ago

Tokenized Treasuries vs. Stablecoins: Where Will Institutional Capital Flow?

22 hours ago

Ethereum Transaction Fees Plunge to 5-Year Low Amid Network Lull: What This Means for the Crypto Market

24 hours ago

First XRP ETF Approved on Toronto Stock Exchange— Is This a Green Light for XRP ETF Approvals in More Countries?

3 days ago

Your Weekend Crypto Roundup | June 2025 (Week 3)

7 days ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    Bybit Expands Global Reach with Credit Card Crypto Purchases in 25+ Currencies and Cashback Rewards

    bychainwire
    27 June 2025
    0

    BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision and South Korea Strategy

    bychainwire
    27 June 2025
    0

    The Rise of AI Beings: CARV’s New Roadmap Signals Next Wave of Web3 AI

    bychainwire
    27 June 2025
    0

    Weed® Announces Partnership with Khalifa Kush; Launches Global Commercialization

    bychainwire
    26 June 2025
    0

    GBM Launches Auction Festival with The Sandbox, Aavegotchi, Unstoppable Domains, and More

    bychainwire
    26 June 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Markets
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverses
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00