Banana Gun team investigates wallet theft, Telegram bot temporarily offline

The team behind the popular Telegram trading bot, Banana Gun, is currently investigating multiple reports of wallet thefts linked to its platform.

These incidents have resulted in significant financial losses for users, prompting the bot’s temporary shutdown as a precautionary measure.

User Wallet Thefts Reported

Several users have reported thefts from wallets connected to the Banana Gun bot. These reports first surfaced within the community, raising concerns about potential security vulnerabilities.

In response, the Banana Gun team quickly acknowledged the issue and posted a message on their official Telegram channel, stating: "We are investigating the issue, and the bot is currently offline." The team assured users that they are working actively to resolve the situation.

Approximately $1.4 Million Stolen

According to community member yannickcrypto.eth, who shared details on platform X (formerly Twitter), around 36 victims have reported thefts totalling approximately 563 ETH (around $1.4 million) on the Ethereum mainnet.

Despite these worrying figures, yannickcrypto.eth noted that it remains unclear whether Banana Gun itself was directly hacked, as the number of affected users is relatively small.

Investigation Points to Frontend Vulnerabilities

Following an initial investigation, Banana Gun's team confirmed: "We have verified that our backend was not compromised. Our routers and databases have been thoroughly inspected, and fewer than 10 users were impacted. Additionally, the transfers appear to have been manually executed.

This leads us to believe that the issue may have originated from a frontend vulnerability." Out of caution, the team has kept the bot offline while they continue to investigate the root cause.

What is Banana Gun?

Banana Gun is a popular trading bot integrated within Telegram, allowing users to conduct on-chain trades and participate in token presales. Its ease of use and efficiency in cryptocurrency transactions have made it a favourite among traders. The bot has facilitated over $6 billion in trading volume and has nearly 272,000 users, positioning it as one of the top Telegram trading bots in the industry.

Not the First Incident

This is not the first time Banana Gun has faced technical challenges. In September, the project experienced a major setback during the launch of its profit-sharing token, Banana, due to a contract flaw that caused the rollout to fail, leaving both users and developers disappointed.