2063 Bitcoin Stolen in BadgerDAO Crypto Hack
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BadgerDAO, a Decentralized Finance (Defi) fell victim to an exploit by hackers on Wednesday
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Blockchain security and analytics company, PeckShield reported that 2,063 BTC worth $116.9 million was stolen
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As the company carries on its investigations, smart contracts on the platform has been stopped
On Wednesday, hackers were able to drain funds from several cryptocurrency wallets connected to BadgerDAO, a decentralized finance platform.
The cybercriminals carted away more than $120 million in various cryptocurrencies, according to blockchain security and data analytics Peckshield who is investigating the theft.
As the company continues investigations, members of the team have disclosed that the attack was likely a result of someone inserting a malicious script in the UI of their website.
Web3 transactions of all users who interacted with the website while the script was active were intercepted and their assets were diverted to the attacker’s
Read also: Crypto Market Crashes as Bitcoin Falls Below $43,000
Peckshield revealed that 896 bitcoin worth more than $50 million was stolen in a single transaction.
The team has stated that the malicious code had been active since November 10th but the hackers ran it intermittently to avoid detection.
When Badger became aware of the unauthorized transfers, it put a hold on all smart contracts and asked users to decline all transactions to the attacker’s addresses.
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