MaestroBots, a prominent cryptocurrency trading bot on the Telegram messenger app, has taken swift action to refund users affected by a recent smart contract exploit. The incident occurred on October 24, targeting a total of 280 ETH. The Maestro team immediately responded by refunding the impacted users and announced their commitment to user security and trust on social media platform X (formerly Twitter) on October 25. They allocated 610 ETH from their own revenue to cover all user losses, which exceeded $1 million at the time of writing. MaestroBots chose to buy and refund tokens for nine out of the 11 exploited tokens, spending 276 ETH to secure users’ tokens. For the remaining two tokens, Joe (JOE) and Lockheed Martin Inu (LMI), the refund was issued in ETH due to liquidity constraints. MaestroBots increased the refund amount by 20% as a gesture of appreciation for the affected users’ trust and support, resulting in a total cost of 334 ETH. CertiK, a blockchain security firm, verified the transactions and confirmed the 334 ETH compensation disbursed to users by MaestroBots. Abbas Abou Daya, CEO of MaestroBots, emphasized their refusal to expose users to bad actors and their commitment to refund every single user affected by the exploit. The full refund campaign was completed within 10 hours of the incident, demonstrating the team’s quick response. MaestroBots apologized for the error and assured users that Maestro: Router 2 is now completely safe. CertiK also confirmed the safety and integrity of Maestro: Router 2 following the incident. MaestroBots is a leading Telegram bot for cryptocurrency trading, prioritizing user security and promptly addressing and resolving security issues.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇨🇦
Sentiment	positive
Relevance Score	1
People	Abbas Abou Daya
Companies	Joe (JOE), X (formerly Twitter), Lockheed Martin Inu (LMI), MaestroBots, CertiK
Currencies	lmi, Ethereum, JOE
Securities	None