An unknown hacker stole cryptocurrencies worth over $120 million from BadgerDAO, a decentralized finance platform on Wednesday night.
While the investigation is ongoing, BadgerDAO and security teams working on it said the attack and was due to a malicious script insertion into the platform’s UI, that triggered diverting funds from customers’ wallets to hackers. As a measure, BadgerDAO suspended transactions and froze the platform for a while.
Security Hack at BadgerDAO
Decentralized finance is one of the finest concepts in blockchain technology, where people can borrow money without any past credit score, and lenders can gain intrest in their pledged amount.
BadgerDAO is of such, having financial experts and strategists for actively managing the people funds, and squeeze maximum profits of it. On Wednesday night, the platform was subjected to a breach, leading to a loss of over $120 million worth of cryptocurrencies.
Here is the current whereabouts as well as the total loss: $120.3M (with ~2.1k BTC + 151 ETH) @BadgerDAO pic.twitter.com/fJ4hJcMWTq — PeckShield Inc. (@peckshield) December 2, 2021
