The decentralized autonomous organization (DAO) called
Badgerdao has disclosed that it has “received reports of unauthorized
withdrawals of user funds.” The analytics team Peckshield estimates that
over $120 million was siphoned in the Badgerdao breach.
Badgerdao Suffers $120 Million Exploit — Engineers Pause Smart Contracts
According to the official Badgerdao Twitter account,
the team has noticed reports of unauthorized withdrawals from the
protocol’s system. “Badger has received reports of unauthorized
withdrawals of user funds,” the team stressed
on Tuesday evening at 11:30 p.m. (EST). “As Badger engineers
investigate this, all smart contracts have been paused to prevent
further withdrawals. Our investigation is ongoing and we will release
further information as soon as possible,” the team added.
The analytics firm Peckshield
told its 22,000 Twitter followers the estimated damage from the
Badgerdao breach. “Here is the current whereabouts as well as the total
loss: $120.3M (with ~2.1k BTC + 151 ETH),” Peckshield tweeted
after the losses were assessed. In response to Badgerdao’s tweet about
unauthorized withdrawals, many users complained of significant losses.
“I thought this sh** was decentralized?” an account called ‘Diary of a Recluse’ wrote in response
to Badgerdao’s tweet on Wednesday. “Wtf? I have over 2.2 million
dollars in badgers? Now no [way to] remove funds? Wtf? I have my entire
life savings in badger coins wtf. Now no remove? Wtf?” Another investor
apparently invested their kid’s university funds into the Badgerdao defi
protocol. The individual wrote:
This is a disgrace! My son’s university fees were all in this, our lives have been destroyed!
Exploit Discussion Moves to Badgerdao’s Official Discord Channel
It’s hard to verify whether or not the people’s stories are true but
there are many complaints from Badgerdao users losing large sums of
crypto. “I’m feeling sick. Nearly 200k vanished. Please don’t let this
be true,” another individual remarked to Badgerdao’s Twitter statement on Wednesday.
The Badgerdao team has yet to update the public since the statement
they made on Wednesday evening. The web portal app.badger.finance has a
message on the site that leads Badgerdao users to the official Discord
channel where most of the discussion is happening. On Discord, plenty of
users are upset about not being able to access Badger vaults and pool
rewards.
source link : https://news.bitcoin.com/exploit-allows-hackers-to-siphon-120-million-from-defi-protocol-badgerdao/
