Celsius Reportedly Affected by the BadgerDAO Exploit: $50 Million Lost
The crypto community is buzzing about the fallout from the recent BadgerDAO exploit, and a new development has emerged: Celsius Network, a prominent crypto lending firm, reportedly suffered significant losses. On-chain data suggests that Celsius Network may have fallen victim to the BadgerDAO exploit, losing $50 million. This revelation makes Celsius the largest reported victim of the attack.
Reports indicate the extent of the damage. La plataforma de préstamos de criptomonedas Celsius habría perdido más de USD 50 millones por el exploit del protocolo de finanzas descentralizadas (DeFi) BadgerDAO. This significant loss raises concerns about Celsius's risk management protocols and the security of user funds within the platform.
What Happened with BadgerDAO?
CryptoPotato reported over the week how hackers managed to steal around $120 million from BadgerDAO – a decentralized autonomous organization that allows users to... The BadgerDAO exploit, which targeted vulnerabilities in the platform's smart contracts, has shaken the DeFi space. The exploit allowed hackers to drain substantial amounts of cryptocurrency, impacting multiple users and institutions.
Crypto lender Celsius Network confirmed the company has lost money from the latest decentralized finance (DeFi) hack on BadgerDAO, a lending platform that offers... While initially unconfirmed, Celsius has now acknowledged the loss, adding urgency to the situation. The incident highlights the inherent risks associated with decentralized finance and the importance of robust security measures.
On-Chain Data Confirms Celsius's Loss
On-chain data has revealed that the BadgerDAO hack resulted in a $50M loss for the Celsius network. This means that Celsius, a crypto lending firm, was the largest victim. The confirmation through on-chain analysis underscores the veracity of the claims and further solidifies Celsius's position as the biggest casualty of the BadgerDAO breach. This substantial loss is sure to have ripple effects throughout the Celsius ecosystem.
The Celsius and BadgerDAO situation is a stark reminder of the risks within the DeFi sector. As investigations continue, expect further updates on the extent of the damage and the steps being taken to mitigate the impact on users and the broader crypto market.