{"id":14916,"date":"2021-12-02T17:54:03","date_gmt":"2021-12-02T17:54:03","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/exploit-allows-hackers-to-siphon-120-million-from-defi-protocol-badgerdao\/"},"modified":"2021-12-02T17:54:03","modified_gmt":"2021-12-02T17:54:03","slug":"exploit-allows-hackers-to-siphon-120-million-from-defi-protocol-badgerdao","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/exploit-allows-hackers-to-siphon-120-million-from-defi-protocol-badgerdao\/","title":{"rendered":"Exploit Allows Hackers to Siphon $120 Million From Defi Protocol Badgerdao"},"content":{"rendered":"

The decentralized autonomous organization (DAO) called Badgerdao has disclosed that it has \u201creceived reports of unauthorized withdrawals of user funds.\u201d The analytics team Peckshield estimates that over $120 million was siphoned in the Badgerdao breach.<\/strong><\/p>\n

Badgerdao Suffers $120 Million Exploit \u2014 Engineers Pause Smart Contracts<\/h2>\n

According to the official Badgerdao<\/a> Twitter account<\/a>, the team has noticed reports of unauthorized withdrawals from the protocol\u2019s system. \u201cBadger has received reports of unauthorized withdrawals of user funds,\u201d the team stressed<\/a> on Tuesday evening at 11:30 p.m. (EST). \u201cAs 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,\u201d the team added.<\/p>\n

The analytics firm Peckshield<\/a> told its 22,000 Twitter followers the estimated damage from the Badgerdao breach. \u201cHere is the current whereabouts as well as the total loss: $120.3M (with ~2.1k BTC<\/a> + 151 ETH<\/a>),\u201d Peckshield tweeted<\/a> after the losses were assessed. In response to Badgerdao\u2019s tweet about unauthorized withdrawals, many users complained of significant losses.<\/p>\n

\u201cI thought this sh** was decentralized?\u201d an account called \u2018Diary of a Recluse\u2019 wrote in response<\/a> to Badgerdao\u2019s tweet on Wednesday. \u201cWtf? 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?\u201d Another investor apparently invested their kid\u2019s university funds into the Badgerdao defi protocol. The individual wrote<\/a>:<\/p>\n

This is a disgrace! My son\u2019s university fees were all in this, our lives have been destroyed!<\/p>\n

Exploit Discussion Moves to Badgerdao\u2019s Official Discord Channel<\/h2>\n

It\u2019s hard to verify whether or not the people\u2019s stories are true but there are many complaints from Badgerdao users losing large sums of crypto. \u201cI\u2019m feeling sick. Nearly 200k vanished. Please don\u2019t let this be true,\u201d another individual remarked<\/a> to Badgerdao\u2019s Twitter statement on Wednesday.<\/p>\n

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.<\/p>\n

What do you think about the Badgerdao exploit? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, $120 Million, $120M, Badger engineers, Badger users, badgerdao, Badgerdao team, Breach, DAO, DeFi, Defi protocol, DEX, Discord channel, Exploit, Hack, Hackers, Peckshield, pool rewards, vaults<\/p>\n","protected":false},"excerpt":{"rendered":"

The decentralized autonomous organization (DAO) called Badgerdao has disclosed that it has \u201creceived reports of unauthorized withdrawals of user funds.\u201d The analytics team Peckshield estimates that over $120 million was siphoned in the Badgerdao breach. Badgerdao Suffers $120 Million Exploit \u2014 Engineers Pause Smart Contracts According to the official Badgerdao Twitter account, the team has…<\/p>\n","protected":false},"author":0,"featured_media":14917,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14916"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14916"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14917"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}