In a rather alarming turn of events, Banana Gun‘s native token, BANANA bore the brunt of a crypto debacle due to a software “bug” within their contract system. BANANA’s performance nosedived down to an alarming low within three hours of its inception, a ripple effect of the aforementioned issue. This real-time crypto catastrophe saw prices plunge over 99% from a previously recorded high of $8.70 to dip to an uneasy $0.02. This astonishing drop led many investors to call the platform a deceit and label the incident a ‘rug pull’.
Banana Gun’s response implied that the unfortunate complication was a result from a flaw in the coding system, thus, deeming it unable to be “hotfix” resolved. An alarming fact came to light stating that the flaw remained unseen even after two vigilant audits conducted by the team. Essentially, this bug provided an unsuspecting leverage to the firm by enabling them to sell their possessions while procuring ownership of their tax tokens.
This newfound revelation reignited an argument over the project, especially given the fact that it failed to identify the defect twice. However, a developer hailed as @Mister_Ch0k alleged that OpenAI’s ChatGPT successfully spotted the bug within seconds, making this debate more convoluted.
Although ChatGPT’s expertise in detecting the bug are undeniable, experts have not fallen short of warning developers of the potential downfalls of mainly relying on chatbots to precede developers. Matthew Zaborowski, co-founder of Proof-of-play, illustrated that ChatGPT is “not a supplement for a seasoned dev or a well-curated set of audits…” while Kang Li, the Chief Security Officer of CertiK prompted towards the risk of solely relying on AI for development, particularly for novice coders.
After receiving backlash, Banana Gun dared to make things right by proposing to refund the victims of this unforeseen incident, despite critics nonetheless believing the damage to be irreparable. The supposed remedial course of action for the team involves liquidating the treasury by means of sale and using the funds in a new contract. Furthermore, the team suggests a relaunch followed by an airdrop to reimburse the affected parties.
The reassurance provided by Banana Gun is particularly promising: another audit prior to the relaunch and a refusal to progress without resolved order. Although this setback leaves the up and coming entrant to Telegram bot trading, Banana Gun, in murky waters, one can only hope for the resurgence of the platform.
Source: Cryptonews
