The eagerly-awaited launch of the Telegram bot Banana Gun’s native token BANANA couldn’t have gone any worse, with the value of the newly launched BANANA falling from a peak of $8.70 to $0.02 in lower than 3 hours after it launched.
Some crypto customers had been fast to cry foul, accusing it of a “rug pull.” However, the official X account for Banana Gun as an alternative blamed a bug in the token’s contract that the crew was unable to hotfix, noting that the bug managed to get by means of “despite two audits.”
We have a bug in our contract we can not hotfix.
Despite two audits there’s a bug in the contract with our taxes, which permits folks to promote their luggage whereas having tax tokens remaining in their pockets.
1. First step is to promote the treasury pockets to empty the LP…
— Banana Gun (@BananaGunBot) September 11, 2023
But the Banana Gun crew and its so-called auditors are probably going to be purple with embarrassment, after a pseudonymous coder, MisterChoc, claimed to make use of OpenAI’s chatbot ChatGPT to identify the flaw inside seconds.
Banana claimed they’d 2 audits. So I requested for a 3rd one to my favourite auditor: ChatGPT
— MisterCh0c (@Mister_Ch0c) September 11, 2023
The Banana Gun crew outlined the “way forward” for customers caught up in the crossfire, stating that the first step is to promote the treasury pockets to empty the liquidity pool for use for a brand new contract.
Additionally, the crew claimed that it might quickly relaunch the token with an airdrop to make sure that unfortunate BANANA buyers could possibly be made complete whereas having the new contract audited.
In this case, ChatGPT has been praised for its means to shortly spot the flaw; nonetheless, specialists have continued to warn in opposition to utilizing AI to put in writing and audit code.
Speaking to Cointelegraph on Sept. 5, CertiK Chief Security Officer Kang Li stated that ChatGPT and different AI-powered assistants may create more bugs than they identify, which could possibly be catastrophic for novice coders seeking to construct their very own tasks.
Banana Gun is certainly one of the latest and extra dominant entrants to the Telegram bot buying and selling scene, pioneered by the outsized success of Unibot. Since Unibot, Telegram bot-enabled buying and selling has witnessed a major uptick in recognition amongst degen merchants seeking to shortly snipe new tokens and hunt airdrops extra effectively.
According to information from Dune Analytics, DEX buying and selling bots notched a report each day buying and selling quantity of $16.7 million on Aug. 29.
Collect this article as an NFT to protect this second in historical past and present your assist for impartial journalism in the crypto house.
Big Questions: What’s with all the crypto deaths?