Using loopholes, hackers can steal US$120 million from the Defi protocol Badgerdao – Bitcoin News

Using loopholes, hackers can steal US$120 million from the Defi protocol Badgerdao – Bitcoin News



The Decentralized Autonomous Organization (DAO) called Badgerdao revealed that it “received reports of unauthorized withdrawal of user funds.” The analysis team Peckshield estimates that more than $120 million was stolen in the Badgerdao vulnerability.

Badgerdao suffers $120 million exploitation-engineers suspend smart contracts

According to the official statement Badger Road Twitter account, The team noticed reports of unauthorized withdrawal of the agreement system. “Badger has received reports of unauthorized withdrawal of user funds,” the team emphasize Tuesday night at 11:30 (Eastern Standard Time). “When the Badger engineers investigated this, all smart contracts were suspended to prevent further withdrawals. Our investigation is ongoing and we will release more information as soon as possible,” the team added.

Analysis company woodpecker Tell its 22,000 Twitter followers the estimated damage caused by the Badgerdao vulnerability. “This is the current whereabouts and total loss: US$120.3 million (approximately 2.1k Bitcoin + 151 Ethereum),” Peck Shield Tweet After the loss assessment. In response to Badgerdao’s tweets about unauthorized withdrawals, many users complained of heavy losses.

“I thought this sh** was decentralized?” An account called “Hermit Diary” wrote in reply Go to Badgerdao’s tweet on Wednesday. “Puff? I have a badger with more than 2.2 million dollars? Not now [way to] Remove funds? Wow? I have saved money in badger coins all my life. Not deleted now? puff? “Another investor apparently invested their child’s university funds into the Badgerdao defi agreement. Individuals wrote:

This is a shame! My son’s college tuition is all here, and our lives are ruined!

Exploit discussion moved to Badgerdao’s official Discord channel

It is difficult to verify whether people’s stories are true, but Badgerdao users have many complaints about losing a large amount of cryptocurrency. “I feel uncomfortable. Nearly 200k disappeared. Please don’t let this become real,” another person Comment Badgerdao’s statement on Twitter on Wednesday.

Since its statement on Wednesday night, the Badgerdao team has not updated the public. The portal has a message on the website that can direct Badgerdao users to the official Discord channel, where most of the discussion takes place. On Discord, many users are upset about not being able to access the Badger vault and prize pool rewards.

Tags in this story

120 million USD, USD 120 million, Badger Engineer, Badger user, Badger road, Badgers, violation, DAO, Go to financial institution, Defi protocol, Decentralized exchange, Discord Channel, Development, hacker, hacker, woodpecker, Prize pool rewards, treasury

What do you think of the Badgerdao vulnerability? Please tell us your thoughts on this topic in the comments section below.

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