The decentralized autonomous organization (DAO) called Badgerdao has disclosed that it has “received reports of unauthorized withdrawals of user funds.” The analytics team Peckshield estimates that over $120 million was siphoned in the Badgerdao breach.
Badgerdao Suffers $ 120 Million Exploit – Engineers Suspend Smart Contracts
According to Badgerdao’s official Twitter Account, the team noticed reports of unauthorized withdrawals from the protocol system. “Badger has received reports of unauthorized withdrawals of user funds,” the team said. stress Tuesday evenings at 11:30 p.m. EST. “As Badger engineers investigate this, all smart contracts have been put on hold to prevent further withdrawals. Our investigation is ongoing and we will release further information as soon as possible, ”the team added.
The analytics firm Peckshield told its 22,000 Twitter followers the estimated damage from the Badgerdao breach. “Here is the current whereabouts as well as the total loss: $120.3M (with ~2.1k BTC + 151 ETH),” Peckshield tweeted after the losses were assessed. In response to Badgerdao’s tweet about unauthorized withdrawals, many users complained of significant losses.
“I thought this shit was decentralized?” »An account entitled” Diary of a recluse “written in reply to Badgerdao’s tweet on Wednesday. “Wtf? I have over $ 2.2 million in badgers? Not now [way to] withdraw funds? WTF? I have all my savings in wtf badger coins. Now no deletion? WTF? Another investor apparently invested his child’s college funds in the Badgerdao Challenge Protocol. The individual wrote:
This is a disgrace! My son’s university fees were all in this, our lives have been destroyed!
Exploit Discussion moves to the official Badgerdao Discord channel
It’s hard to verify whether people’s stories are true or not, but there are many complaints from Badgerdao users losing large amounts of crypto. “I feel sick. Almost 200,000 are missing. Please don’t let this be true,” another person remark to Badgerdao’s Twitter statement on Wednesday.
The Badgerdao team has yet to update the public since the statement they made on Wednesday evening. The web portal app.badger.finance has a message on the site that leads Badgerdao users to the official Discord channel where most of the discussion is happening. On Discord, plenty of users are upset about not being able to access Badger vaults and pool rewards.
