BadgerDAO Users Lose $100M in Hacker Attack
Main page News, Hacker Attack

Hackers have attacked the BadgerDAO project, which is focused on Bitcoin owners. As a result, the users of the platform have lost about $100 million. According to analyst firm PeckShield, 896 BTC or half of the total amount was in the wallet of one of the project’s users.

BadgerDAO developers have reported they are already investigating the incident:

"Badger has received reports of unauthorized withdrawals of user funds. As 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."

Apparently, BadgerDAO's website interface has been hacked, and not the smart contract itself. Because of this, users, thinking they were interacting with BadgerDAO, have granted permissions to trade their wallets to a third-party address. The attack took place last Wednesday night, however, the collection of permissions had been going on for several days or weeks prior to that.

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Users who have granted permissions to the hacker's address 0x1fcdb04d0c5364fbd92c73ca8af9baa72c269107 should revoke them in order to prevent further withdrawals.

BadgerDAO allows users to receive passive income on Bitcoin assets, convert them into Ethereum blockchain assets and use them in yield farming. BadgerDAO's own token (BADGER) has dropped 15% after the news broke.

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