Celsius Could Be The Biggest Victim In The Recent BadgerDAO Hack

Celsius could be the biggest victim of the latest BadgerDAO hack from earlier this week and according to the speculation, one of the most affected addresses could be the one of Celsius so let’s find out more in our latest cryptocurrency news.

The popular lending platform didn’t confirm the rumors which started circulating on social media however the on-chain data supports the claim. Bitcoin DeFi tool BadgerDAO suffered a huge hack earlier this week and it seems that one of the most affected addresses with over 900 BTC affected could be owned by Celsius. The address flagged as the biggest victim of the BadgerDAO attack lost about 896 Wrapped bitcoin worth about $51 million. In the aftermath, the rumors started circulating on social media like Twitter, Reddit that the affected address is tied to celsius. One user by the name BigTimeCali wrote:

“Despite Celsius’s efforts to convince the community that they did not lose 900 BTC as a result of the hack, the on-chain transactions prove the opposite.”

The on-chain analysis shows the victim’s transaction history with an address that had $65.6 million balance of which almost $40 million was in Celsius’ native token CEL and this address often interacts with one of the major addresses tagged as Celsius Network Wallet 5:

“All this means that there’s a high chance that the address who 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.”

By compromising BadgerDAo’s front-end interface, the attacker stole more than $120 million in user funds but the decentralized autonomous organization hasn’t confirmed the scope of the damage. In the meantime, the exploit protocol paused smart contracts in order to prevent even more withdrawals assuring that the investigation continues:

“Badger has retained data forensics experts Chainalysis to explore the full scale of the incident & authorities in both the US & Canada have been informed & Badger is cooperating fully with external investigations as well as proceeding with its own.”

As recently reported, The BadgerDAO Defi project is a decentralized autonomous organization that is working on bringing Bitcoin to decentralized finance which fell victim to a hack attack that resulted in the loss of over $120 million. The Initial reports suggested the number of user funds drained of the protocol was $10 million but the data PeckShield data security company shows that the actual losses are much higher. According to PeckShield, the total losses amounted to $120.3 million.

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