{"id":206626,"date":"2021-12-02T14:05:44","date_gmt":"2021-12-02T14:05:44","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=206626"},"modified":"2022-02-20T14:37:11","modified_gmt":"2022-02-20T14:37:11","slug":"bitcoin-defi-tool-badgerdao-hit-by-estimated-120-million-hack","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-defi-tool-badgerdao-hit-by-estimated-120-million-hack\/","title":{"rendered":"Bitcoin DeFi tool BadgerDAO hit by estimated $120 million hack"},"content":{"rendered":"

Decentralized autonomous organization BadgerDAO<\/a> recently suffered a major exploit, and according to the current speculation the attack was executed via the DeFi protocol\u2019s front-end.<\/p>\n

Without revealing any details related to the attack, the team confirmed receiving reports of unauthorized withdrawals of user funds on Twitter, announcing it paused all smart contracts in order to halt further damage.<\/p>\n

BadgerDAO leverages infrastructure that allows users to bridge their Bitcoin<\/a> to other blockchains, thus enabling them to use it as collateral for earning yield in DeFi applications (Dapps).<\/p>\n

Counting victims<\/h2>\n

While confirming that they have \u201creceived reports of unauthorized withdrawals of user funds,\u201d the Badger team assured they are investigating the issue.<\/p>\n

\n

Badger has received reports of unauthorized withdrawals of user funds.<\/p>\n

As Badger engineers investigate this, all smart contracts have been paused to prevent further withdrawals.<\/p>\n

Our investigation is ongoing and we will release further information as soon as possible.<\/p>\n

— \u20bfadgerDAO \ud83e\udda1 (@BadgerDAO) December 2, 2021<\/a><\/p><\/blockquote>\n