Celsius Network fell victim to a $50 million BadgerDAO exploit

Crypto lending firm Celsius lost $50 million in BadgerDAO exploit according to reports.

Share

According to sources, the decentralized finance (DeFi) protocol, BadgerDAO lost $50 million in an attack on the Celsius Network. This protocol is on the Ethereum Network and has experienced security breaches that led to the loss of $120 million worth of assets before, but this has not been confirmed yet, according to Cointelegraph.

One hack victim address lost 896 Wrapped Bitcoin ($51 million) says a Redditor, and it is assumed that it belongs to the Celsius firm "since it has interacted with other addresses known to be owned by them."

It’s interesting to know that this address has been trading with another holding a handsome $67 million. $40 million of the whole is in CEL, Celsius’ eponymous native token.

The address is believed to be held by Celsius, since it is linked to at least one other account labeled as Celsius Network Wallet 5 on Etherscan, and the two addresses share numerous significant transactions.

The Redditor also said:

"All this means that there's a high chance that the address that lost 900 BTC was owned by Celsius. Celsius has not confirmed anything yet, so this is all speculation, for now, so we don't know for sure if Celsius was affected or not."

This allegation has remained unanswered to the moment by Celsius. This, however, is not the first time BadgerDAO has been attacked. It was breached in early December and users’ funds were stolen several times on Wednesday, as was mentioned on BadgerDAO’s Twitter.

666.png

Source: BadgerDAO’s Twitter

CEL saw a significant drop around the end of November. On November 25, it was trading at $4.5, but on November 26, it fell to as low as $3.9. Right now, CEL is trading at $4, which is 9% higher than that of the past 7 days.

Categories

Cryptocurrency(5)

Latest News

$150 million in USDT was frozen by Tether

A rationale for blacklisting three addresses has not been given by Tether, although it has done so in the past to cooperate with law enforcement and help exchan ...

JAN 14, 2022

Reddit will go public

Internet forum Reddit Social network announced its plans of going public and it is filing for an IPO. ...

DEC 17, 2021

Tesla will accept Dogecoin and DOGE rises 25%

Elon Musk announced that Tesla will accept DOGE as the only cryptocurrency when the payment starts. ...

DEC 14, 2021

90% of the Bitcoin total supply is already mined

Reports say that only 10 percent of the Bitcoin supply is left and they will be mined but at a little slower pace. ...

DEC 13, 2021

Tags

Celsius Network

Exploit

Crypto Hack

BadgerDAO

Tags

Celsius Network

Exploit

Crypto Hack

BadgerDAO