- Banana Gun revealed a major flaw in its smart contract post-launch.
- ChatGPT, OpenAI’s chatbot, is credited for identifying the contract flaw in seconds, sparking debate on its capabilities.
- The token BANANA crashed after the flaw’s discovery, leading to “rug pull” speculations..
Banana Gun, a crypto project, recently disclosed a critical flaw in its smart contract. Despite undergoing two audits, the team only discovered the bug after the project’s launch. The glitch enabled users to sell their assets while still holding tax tokens, causing a flash crash in the value of its native token, BANANA.
Announcement
We have a bug in our contract we cannot hotfix.
Despite two audits there is a bug in the contract with our taxes, which allows people to sell their bags while having tax tokens remaining in their wallet.
1. First step is to sell the treasury wallet to drain the LP…
— Banana Gun
(@BananaGunBot) September 11, 2023
Following the revelation, the price of Banana Gun’s native token, BANANA, took a nosedive, as per DEXTools data. After reaching a high of approximately $8.7, its worth plummeted to near insignificance. This drastic price shift led to a wave of speculation. Many in the crypto community labeled the incident a “rug pull,” casting doubts over the project’s legitimacy.
However, the Banana Gun team was quick to respond. They outlined a recovery strategy, starting with selling their Treasury wallet. The aim is to tap into the locked liquidity, which will find its way into a new contract. A subsequent relaunch is on the horizon, with an airdrop in the pipeline to compensate users.
OpenAI’s ChatGPT Enters the Scene
In an intriguing twist, a coder by the pseudonym ‘Mister Choc’ shed light on the contract’s vulnerability. He credited OpenAI’s chatbot, ChatGPT, for pinpointing the flaw in seconds. This revelation sparked a debate on the chatbot’s prowess. Matthew Zaborowski, Co-Founder of Proof of Play, weighed in on the matter. He acknowledged ChatGPT’s ability to scrutinize contracts for potential exploits but emphasized its supplementary role to seasoned developers and thorough audits.
The Banana Gun team remains committed to rectifying the situation. They have assured stakeholders of a rigorous audit for the new contract. Only once all elements align perfectly will the project see another launch. In a gesture of goodwill, the team is also reviewing the Profit and Loss statements of all traders. Those who invested more in BANANA than they withdrew will receive full compensation in ETH.
