Users of the crypto trading bot Banana Gun, operating on the popular messaging platform Telegram, have been targeted by cyber attackers, resulting in a loss of almost $2 million in digital assets. The bot allows users to trade frequently utilized cryptocurrencies such as Ethereum, Solana, and Base. According to Hakan Unal, senior Security Operation Center lead at onchain security firm Cyvers, at least 11 attackers have collectively swiped $1.9 million from the users of Banana Gun.
Banana Gun has so far confirmed at least 36 victims of this cyber theft, based on the report from crypto detective Yannick Crypto. This unfortunate incident comes in the wake of a major cyber theft aimed at WazirX, one of India’s top cryptocurrency exchanges, which suffered a loss of over $230 million. This case is currently the second-largest crypto hack of 2024.
Unal from Cyvers held that the attack did not demonstrate any wider smart contract vulnerability. He further speculated that the attackers primarily targeted smaller amounts to drain from users, which might be a reason why the crypto sleuth reported less than 40 victims from a user base exceeding 10,000.
Following the resurfacing of the infamous crypto attack toolkit “Angel Drainer,” the Banana Gun Bot incident presents another notable case of malicious activity in the crypto arena. In light of growing hacking attempts, the FBI warns that large-scale targets, such as U.S.-based Bitcoin exchange-traded funds (ETFs), may be the next on hacker’s hit list, given the significant rewards involved.