Largest DeFi Hack Yet? BadgerDAO Hack Results In Loss Of $120M+
There are high ceilings and low floors when it comes to crypto at times. Another hack came to life this week, and early reports have stated that the hack was a front-end compromise that led to users being tricked into approving unwanted transactions. The news comes after a $35M DeFi hack of the Vee Finance protocol in recent months, and our team at NewsBTC reported around mid-year that crypto hacks and fraud were on pace for a record year. This week’s BadgerDAO compromise is one of DeFi’s biggest yet. BadgerDAO Hack: What We Know The protocol cited “reports of....
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The Ethereum based bridge Ronin was hacked for $600 million in digital assets or 173,600 ETH and $25 million in USDC. This attack has become the largest in the history of decentralized finances (DeFi), surpassing the Poly Network hack which also exploited a bridge-rooted vulnerability. Related Reading | BadgerDAO Pulls A Poly Network As It […]
A disappointing week of exploits has put a temporary grim cloud over the end of 2021, with BadgerDAO and Huobi-listed MonoX suffering major losses. More than $150 million has been lost this week in separate security breaches at DeFi projects MonoX and BadgerDAO.Multi-chain decentralized exchange (DEX) MonoX (MONO) suffered a cyber attack on Nov. 30 leading to about $31 million in losses. BadgerDAO (BADGER) suffered a front-end attack that was discovered on Dec. 2 with estimates of Badger’s losses hitting more than $120 million. The MonoX DEX platform suffered a single attack on Nov. 30. In....
On August 10, the decentralized finance (defi) project Poly Network suffered a loss of over $600 million according to various reports. The hack follows a recent Ciphertrace report on how defi-related hacks and fraud in 2021 have already surpassed 2020. The Poly Network hack on Tuesday is well above the entire year’s worth of defi hacks. $600 Million Drained, Poly Network Defi Hack Eclipses 2021’s Defi Hacks This week, the blockchain analysis and intelligence company Ciphertrace published a report that shows $474 million was lost to defi-related hacks and fraud. The findings....
The Alpha Homora hack is still rippling through markets. Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday.The Alpha Homora and Cream Finance hack has made a gigantic mark in the DeFi space this week.It is the largest single hack in DeFi history at $37 million in funds stolen. It is also one of the most complex, apparently leveraging several honest-to-God vulnerabilities in Alpha Homora. A few missing input checks in very specialized conditions allowed the hacker to abuse Alpha Homora’s privilege of borrowing an unlimited amount of funds....
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 Pause Smart Contracts According to the official Badgerdao Twitter account, the team has noticed reports of unauthorized withdrawals from the protocol’s system. “Badger has received reports of unauthorized withdrawals of user funds,” the team....