Key points to remember:
- BadgerDAO website decentralized protocol exploit allowed attackers to steal more than $ 120 million in crypto assets
- The perpetrator investigation is ongoing; BadgerDAO team members believe someone has inserted malicious code into their website
- Several BadgerDAO users have taken to Twitter to express their frustration with BadgerDAO
BadgerDAO, a decentralized finance (DeFi) protocol specializing in bringing Bitcoin (BTC) to DeFi, was the victim of a hacking attack that siphoned $ 120 million in digital assets from numerous crypto wallets. currency connected to the platform.
Hackers took over $ 120 million worth of Bitcoin and Ethereum
PechShiled, a blockchain security and data analytics company working with the BadgerDAO team to recover stolen crypto funds, reported that approximately 2,100 BTC and 151 ETH, with a total value of $ 120.3 million , were siphoned off during the attack.
BadgerDAO’s security team noticed a series of unauthorized system withdrawals from the platform on December 2 at 11:30 p.m. EST. In response, the company immediately suspended all smart contract functionality to prevent further unauthorized withdrawals of user funds.
So far, the investigation of the attack has yielded no tangible clues as to the identity of the attackers. All that is known at this time is the amount of funds stolen and the cryptocurrency wallets affected.
Several users who saw their funds disappear in the attack were obviously enraged by the whole ordeal. An user wrote:
“I thought this shit was decentralized?” WTF? I have over $ 2.2 million in badgers? Now, no withdrawal of funds? WTF? I have my entire life savings in wtf badger coins. Now no deletion? Wtf? “
Another user shared his horror story on Twitter thread:
“I feel sick. Almost 200,000 are missing. Please don’t let this be true !!”
The BadgerDAO team believe the attack was made possible by a malicious script the authors inserted into the protocol’s website UI that intercepted user funds and sent them to the attacker’s digital wallet. . The company would be conduct your own investigation, as well as “to cooperate fully with external investigations”.
We can only hope that the attack on BadgerDAO turns out to be a white hacking attack, as it did earlier in the year when an anonymous hacker stole a record $ 612 million in assets. cryptographic in a Poly Network exploit, but then returned the funds in full.
David is a crypto enthusiast and a personal finance expert. He has created many publications for different platforms. He loves exploring new things, and that’s how he discovered blockchain in the first place.
