Banana Gun’s freshly unveiled token experienced a staggering nosedive of over 99% within a mere three-hour window after its launch, following the discovery of a critical bug lurking within its contractual framework.
The much-anticipated debut of Banana Gun’s proprietary token, affectionately known as BANANA, couldn’t have taken a more catastrophic turn. The price of this newly-minted BANANA plummeted from its apex at a princely $8.70 to a paltry $0.02 in less than the span of three hours post-launch.
Swift as the wind, some members of the crypto community began to cry foul, hurling accusations of a “rug pull” at the beleaguered token. In a surprising twist, the official X account representing Banana Gun chose not to shoulder the blame but instead pointed a finger at an insidious bug ensconced within the token’s contractual labyrinth. Regrettably, the team found themselves helpless in the face of this bug, despite the two rigorous audits that the token had undergone.
However, in a shocking twist of events, Banana Gun’s team and its purported auditors now find themselves crimson with embarrassment. An enigmatic coder, MisterChoc, claimed to have employed OpenAI’s ChatGPT to identify the flaw within a matter of mere seconds.
As the tempest raged on, Banana Gun’s team charted a precarious “way forward” for those ensnared in the crossfire. Their initial step involved liquidating the treasury wallet to drain the liquidity pool, with the intention of facilitating a fresh contract.
Furthermore, the team boldly asserted their intent to reissue the token with a generous airdrop, a salve intended to make amends for the misfortunes of the beleaguered BANANA investors. This time, they promised that the new contract would be subjected to a rigorous audit.
In this intriguing turn of events, ChatGPT garnered accolades for its lightning-quick identification of the critical flaw. Nevertheless, experts continue to raise a cautionary flag against the overreliance on AI for code generation and auditing.
Speaking to Cointelegraph on the 5th of September, Kang Li, the Chief Security Officer at CertiK, cautioned that AI-powered assistants like ChatGPT might inadvertently introduce more vulnerabilities than they mitigate. This, he warned, could prove catastrophic for novice coders venturing into the realm of autonomous project development.
Banana Gun stands as a recent entrant that has rapidly gained prominence in the Telegram bot trading arena, following in the footsteps of the trailblazing success of Unibot. Since the rise of Unibot, the world of Telegram bot-enabled trading has witnessed a remarkable surge in popularity among daring traders seeking to swiftly capture new tokens and optimize their hunt for airdrops.
According to data from Dune Analytics, decentralized exchange (DEX) trading bots achieved an unprecedented daily trading volume of $16.7 million on August 29th.
