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Over US$120 million has been stolen from multiple cryptocurrency wallets connected to BadgerDAO

Over US$120 million has been stolen from cryptocurrency wallets linked to BadgerDAO. (Image source: Art Rachen on Unsplash)
Over US$120 million has been stolen from cryptocurrency wallets linked to BadgerDAO. (Image source: Art Rachen on Unsplash)
BadgerDAO has warned customers that it recently suffered a hack, affecting multiple cryptocurrency wallets linked to the company. In total, it is estimated that US$120 million (~€106 million) worth of cryptocurrency, including bitcoin and ethereum, has been stolen by the bad actor.

Multiple cryptocurrency wallets linked to BadgerDAO, a decentralized finance platform, have suffered unauthorized withdrawals. BadgerDAO has reported this to customers and announced an investigation into the matter, with all further withdrawals put on hold until further notice.

Peckshield, a blockchain security company, has been working with BadgerDAO to investigate the attack. It claims over US$120 million (~€106 million) has been stolen, including 151 ethereum and approximately 2,100 bitcoins, with almost 900 of those bitcoins coming from just one account.

According to users of the platform, the hack resulted from a malicious script exploiting the website's UI. They believe that the script intercepted transactions made on the website by customers, giving the hacker's address permission to transact from their vaults. BadgerDAO users also speculate that the hack was made possible by weak two-factor authentication, which allowed the bad actor to access its Cloudflare API.

Alongside Peckshield, BadgerDAO has also been working with a data forensics company, Chainalysis, and authorities in the US and Canada. The BadgerDAO community has recommended that users of the platform use tools like Unrekt and Debank to ensure any permissions granted during the attack are revoked so that they can safely continue to use the site.

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Polly Allcock
Polly Allcock - Tech Writer - 315 articles published on Notebookcheck since 2021
I've been interested in technology for as long as I can remember. From a young age, I have loved gadgets and understanding how things work. Since graduating, I have worked for several technology companies across FinTech, AdTech and Robotics.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 12 > Over US$120 million has been stolen from multiple cryptocurrency wallets connected to BadgerDAO
Polly Allcock, 2021-12- 3 (Update: 2021-12- 3)