Key points to remember
- BadgerDAO suffered a major hack yesterday, with losses totaling over $ 120 million.
- A BadgerDAO user lost 896.8 Bitcoin Wrapped worth $ 51 million.
- Data on the chain shows that the wallet containing the 896.8 Wrapped Bitcoin has had several interactions with wallets associated with the Celsius network.
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Several BadgerDAO users suffered significant losses when the protocol interface was hacked yesterday– and on-chain data suggests that Celsius Network could have lost an eight-digit sum.
The biggest victim of the BadgerDAO hack
Celsius Network may have been the biggest loser in the recent BadgerDAO hack.
The DeFi BadgerDAO protocol, specializing in offering return opportunities on Wrapped Bitcoin, suffered a major hack Thursday after an attacker exploited the application’s front-end website. While the investigation is still ongoing, the attacker reportedly added a script to the interface that tricked users into allowing the attacker to drain assets from their wallets. Over $ 120 million has been drained.
The the biggest transaction saw the attacker drain 896.8 packaged Bitcoin worth just over $ 51 million from an address beginning with “0x534”. On-chain data suggests the victim may be closely related to Celsius Network, a CeFi app that allows users to earn interest on their cryptocurrencies.
The transaction history for address “0x534” shows multiple seven-digit transactions. On Wednesday, for example, the address sent over $ 2.2 million ConvexCRV value at an address starting with “0x5fa”.
This too transferred 125 ETH valued at $ 575,000 at an address starting “0xdb3” on Tuesday. The “0xdb3” wallet currently holds just under $ 68 million, including $ 41.2 million in CEL Celsius token. He also had multiple seven-digit transactions with one of the The main Celsius portfolios, which begins with “0x4f6” and is tagged as “Celsius Network: Wallet 5” on Etherscan.
Transaction history also shows “Celsius Network: Wallet 5” interacting with a wallet starting with “0xef2”. This wallet currently holds $ 46.7 million in Ethereum, Wrapped Bitcoin and other assets, and interacted with the same wallet that received $ 2.2 million from ConvexCRV of “0x534” this week.
A Twitter user by the name of BigTimeCali shared several of the notable transactions in a Thursday tweet storm, noting that Celsius Network also had deleted questions related to the incident on his Reddit page.
Although the on-chain data is inconclusive, it does show that the “0x534” wallet has had several interactions with wallets closely related to the Celsius network. The high transaction value also suggests that the portfolio holder is a bigger player in the space.
Neither Celsius Network nor the company’s founder and CEO Alex Mashinsky immediately responded to Crypto Briefing’s request for comment.
This story is developing and will be updated as more details emerge.
Disclosure: At the time of writing, the author of this feature owned ATOM, ETH, and several other cryptocurrencies.
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