24/7 Cryptocurrency News

Dogecoin Developer Signals Alert Over BonkBot Trading Flaws

Mishaboar warns of an exploit in BonkBot, advising users to secure their funds amid rising concerns over bot trading security.
Published by
Dogecoin Developer Signals Alert Over BonkBot Trading Flaws

Highlights

  • Dogecoin community developer issues a warning about the BonkBot Telegram bot due to an exploit.
  • The developer emphasizes the risks associated with using bots to trade meme coins.
  • The BonkBot team responds, clarifying that the exploit is not from their bot but elsewhere in the ecosystem.

A notable developer within the Dogecoin community, Mishaboar, has raised concerns over a Telegram bot named BonkBot. This bot, intended for cryptocurrency trading on the Solana blockchain, has an exploit, as reported. As posted on social media, Mishaboar’s caution centers around the potential dangers of employing bots to trade meme coins such as BONK. The developer’s alert is aimed at the vulnerabilities of custodian hot wallets used by these bots.

Mishaboar recommends the users remove their funds from these Telegram bots until the problem is fixed. Bringing up the threats, he mentions the vulnerability of the platforms to being hacked. These dangers occur in the form of data losses, security breaches, and malicious actions. The warning of the developer becomes more powerful under the impact of very high trading volumes by bots that often go up to $700 million in one single day.

Advertisement

Response from the BonkBot Team

The BonkBot team has responded to the concerns that are being spread. They make it clear that the mentioned exploits do not come from BonkBot itself. However, they propose that the vulnerabilities are elsewhere within the ecosystem. They argue that the users who have lost funds had earlier exported their private keys.

BonkBot team guarantees that the funds of users who have not exported their private keys are safe. This clarification is meant to remove the bot’s users’ fears. It highlights the significance of safe procedures in the handling of cryptocurrency funds. The team’s response tries to uphold the users’ confidence in the safety and dependability of their services in the face of increasing fear.

Advertisement

Binance Introduces New Trading Pairs and Bot Services

In a similar development, Binance, a major digital currency exchange, unveiled new trading pairs as well as bot services. This step is designed to improve the trading experience of its customers. The latest trading pairs consist of Bonk (BONK), Floki (FLOKI), Fantom (FTM), Maker (MKR), Render (RNDR), and Raydium (RAY).

Besides, Binance is also releasing bot services for some trading pairs. These services are designed for a variety of trading strategies, including tools such as Spot Grid, Spot DCA, and Rebalancing Bot. In the beginning, services will be limited to the ETHFI/USDT pair. Binance’s move is a response to the increasing interest and demand for auto trading solutions in the cryptocurrency market.

Read Also: Dogecoin Price Gains Momentum as Whales Dive In, Is $0.3 Next Stop?

Share
Maxwell Mutuma

Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC

This week, corporate Bitcoin treasuries exceeded 1 million BTC in total holdings. From September 1…

September 7, 2025
  • Bitcoin News

Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH

Popular gold advocate Peter Schiff has criticized Bitcoin’s weakness against gold, calling it near bear…

September 7, 2025
  • Bitcoin News

Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure

Arkham Intelligence has identified 45,000 Bitcoin (BTC), valued at nearly $5 billion, that remains untouched…

September 7, 2025
  • 24/7 Cryptocurrency News

Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline

Ethereum ETFs faced a sharp investor pullback this week, shedding nearly half a billion dollars…

September 6, 2025
  • 24/7 Cryptocurrency News

World Liberty Financial Discloses Reason for Blacklisting 272 Wallets

World Liberty Financial (WLFI) has confirmed that it blacklisted 272 wallets and explained why it…

September 6, 2025
  • 24/7 Cryptocurrency News

September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data

Traders are beginning to price in the possibility of a 50 basis points (bps) Fed…

September 6, 2025