STF GNZ
1K posts
@STFGNZ
Besides having decent success in DeFi and having the best sense of humor ever, I am not all too interesting.
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🌟 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 wondering how we can "update" a contract that's already on the chain: our router is an upgradeable proxy, which allows us to add new features, but it can also double as a protective shield against exploits. We were able to quickly intercept and patch out the exploit through this technology. Maestro: Router 2 is now fully safe. You don't need to revoke approvals or stop interacting with the router. It's also worth noting that the exploit was aimed directly at the router, and wallet credentials were not (and will never be) compromised. Your safety will always be our absolute top priority. ➡️ The Aftermath The exploiter was able to extract 280 ETH through token sells before we shut him down permanently. After ensuring the safety of the new router, we then started looking into refund options. This wasn't an easy case to approach, since the few users who were affected lost tokens, not ETH. We opted for the following strategy: ➡️ The Team's Response We absolutely refuse to expose our users to such bad actors, and we needed to do right by the few who were affected. The only right option was refunding every single user to the absolute best of our ability: Every wallet that lost tokens in the router exploit has now received the full amount they lost. Some of you ended up with even bigger bags. For 9 out of the 11 exploited tokens, we chose to buy and refund tokens instead of simply sending ETH because it's the most equitable and complete refund we can offer for the incident. This gives full control back to the user (plus you can dump on our buys). We spent 276 ETH to secure our users' tokens. Please paste the token contracts in the bot and navigate to the right wallet to verify that you've received your tokens. For the other two tokens (JOE and LMI), there simply wasn't enough liquidity to allow us to buy back the lost tokens, so we compensated affected users with the ETH equivalent of their tokens, and boosted that amount by 20% because you deserve it. These refunds cost 334 ETH. 🌟 All group-refund transactions can be found in our Telegram chats. Overall, the full refund campaign concluded a mere 10 hours after the exploit. These refunds cost us a total of 610 ETH, but it's a small price to pay to ensure your safety and peace of mind. ➡️ Final Words Team Maestro apologizes for the error. We hold ourselves to a higher standard. That being said, the exploit was fully shut down within 30 minutes, trading capabilities were restored within 2 hours, and full refunds were issued within 10 hours. Anyone who was affected was made whole. Maestro: Router 2 is now completely safe. We hope that the swiftness of our response, paired with the completeness of the offered refund, can serve as a powerful reminder of our continued commitment to do right by our users. We promised that no one would be left behind, and we will continue to deliver on that promise, no matter the cost. Thank you for using Maestro, and happy sniping. Make sure to follow us on our socials (linktr.ee/MaestroBots) to stay up-to-date on all things Maestro.
