Wednesday, September 27, 2023

Banana Gun’s failed contract passed 2 audits, but ChatGPT found the bug in seconds

The long-awaited launch of Telegram bot Banana Gun’s native BANANA token couldn’t have been worse; the price of newly launched bananas fell from a high of USD 8.70 to USD 0.02 in less than 3 hours after its release.

Banana Gun'S Failed Contract Passed 2 Audits, But Chatgpt Found The Bug In Seconds

Some cryptocurrency users were quick to complain, accusing it of “rug-pull.” However, Banana Gun’s official X account blamed a bug in the token contract that the team was unable to fix, saying the bug was able to “save two audits.”

The Banana Gun team and their so-called auditors must be embarrassed about this, because A pseudonymous programmer, MisterChoc, claims to have used OpenAI’s ChatGPT chatbot to detect the bug in seconds.

The Banana Gun Team outline the “way forward” for users involved in conflict, which shows that the first step is to sell the treasury wallet to drain the liquidity reserve that will be used for the new contract.

Besides, The team stated that the token will soon be relaunched to ensure that unfortunate BANANA investors are compensated while the new contract is audited.

In this case, ChatGPT is praised for its ability to quickly find the bug; however, Experts continue to recommend against using AI to write and audit code.

Speaking to Cointelegraph on September 5, CertiK’s security chief Kang Li said that ChatGPT and other AI-powered assistants can produce more bugs than they know, which could harm amateur coders looking to build their own projects.

Banana Gun is one of the newest and most dominant entrants in the Telegram bot trading scene, fueled by the success of Unibot. Since Unibot, trading through Telegram bots has seen a significant increase in popularity among “degen” traders who want to quickly acquire new tokens and hunt for releases more efficiently .

According to data from Dune Analytics, On August 29, DEX bots reached a record daily volume of $16.7 million.

Banana Gun'S Failed Contract Passed 2 Audits, But Chatgpt Found The Bug In Seconds
Total trading volume of Telegram bots since January 2023. Source: Dune Analytics

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Nation World News Desk
Nation World News Desk
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