The highly anticipated Banana Gun launch in the market went wrong. The altcoin price followed an interesting course during this period. The token price, which rose 1,300 percent upon launch, approached zero due to an error. However, he claims that artificial intelligence easily detected this error, which went through two checks.
The altcoin that collapsed with a disastrous launch might not have experienced this!
As you follow from Kriptokoin.com, the much-anticipated Banana Gun Token launch went wrong. Thus, the value of the cryptocurrency token dropped from $8.70 to just $0.02 in just three hours. Initially the developers faced accusations of a ‘rug-pull’. However, the developers were quick to shift the blame to a bug in the smart contract. Remarkably, however, this bug had survived two separate checks.
In the wake of the BANANA token crash, an unlikely hero emerged from the digital realm: ChatGPT. A fake coder named MisterChoc used ChatGPT to examine the altcoin project’s contract. The AI detected the gap in just seconds, which eluded human experts during two rounds of inspection. This revelation sparked debate about the utility and limitations of artificial intelligence in auditing blockchain-based codes.
Banana claimed they had 2 audits. So I asked for a third one to my favorite auditor: ChatGPT
And it found the bug 😬 https://t.co/cA9ju08dHB pic.twitter.com/F1GCtmEiSs
— MisterCh0c (@Mister_Ch0c) September 11, 2023
Response received from the Altcoin project team
The team initially plans to sell assets from the project’s treasury wallet. This is a move aimed at freeing up locked liquidity, which will then be used in framing a new contract. The process doesn’t end here; The team guarantees that it will be relaunched soon, accompanied by an airdrop, a strategy to return investors to their original positions and essentially make them “whole”.
At the same time, the altcoin project aims to provide a rigorous audit process for the new contract. It also aims to avoid hasty launches until every aspect has been rigorously verified and secured. This approach is also reflected in the detailed analysis of profit and loss statements of all traders. This effort signals their determination to recover lost assets and revive confidence that seems to have taken a hit in this maelstrom of unexpected events.
WAY FORWARD
Shitty situation, but we're going to do everything to make it right. Happy to share an action plan though.
1. We are having our new contract audited, but won't launch until we are sure everything is in order.
2. We are going to take care of our investors.Let us go… pic.twitter.com/AqyFkbjdvH
— Banana Gun 🍌🔫 (@BananaGunBot) September 11, 2023
What are the expert opinions?
ChatGPT’s ability to quickly detect the vulnerability has earned it praise. However, experts in the field are cautious about over-reliance on AI-based solutions. Kang Li, a leading expert at blockchain security firm CertiK, warns that AI technologies can actually introduce new vulnerabilities, especially when used by amateur developers who lack a nuanced understanding of the codebase.
The rise of Telegram Bot trading
The story of the altcoin project cannot be told apart from the broader context of the rapidly growing Telegram bot trading ecosystem popularized by platforms like Unibot. Because this new trading paradigm allows traders to capture newly released tokens. It also allows scouting for lucrative airdrops much more efficiently than traditional methods.
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