Badger DAO (BADGER) Suffers Attack Losing $10M

Badger DAO (BADGER) Suffers Attack Losing $10M
  • Badger DAO (BADGER) suffers a cyber attack.
  • Loses amounts to $10 million
  • Evidently the price of BADGER drops down rapidly.

Yet, we come across another cyber attack. Despite comparing last month’s cyber attacks and crimes, for the month  of November the count has been subsidised. However, just a few hours back a security breach took place upon the Badger DAO (BADGER) platform.  

Sources confirm that this attack upon its network has resulted in losses of $10 million. Furthermore, the worst affected were the smart contracts devised by the platform. 

The Attack

About early hours of December 2nd, 2021, a security breach has prevailed upon the BADGER platform network. In spite of this, the cyber attack evaded all the security protocols of the firm resulting in losses of about $10 million approximately. 

Moreover, the BADGER firm refuses till now to completely make it official though. However, they put forth a tweet depicting certain unanimous withdrawals from various users’ accounts.

Furthermore, they stated that a separate team has been devised inorder to investigate the issue. In addition, as a result of the attack for security reasons the firm declares that it has stopped all the smart contracts on live and everything will be paused. 

Also, once issues get resolved the smart contracts will resume states the team from BADGER.   

The Badger DAO is a completely decentralized automated organization which is completely open sourced. Their profuse attributes are upon the smart contract developments, running them and establishing them, all profusely based upon Bitcoin (BTC). In addition, the network runs upon the Ethereum (ETH) blockchain. 

Price Drop

As a result of the attack, the entire price of BADGER, the native token of the Badger DAO network, dropped down and is still plunging deep down. 

Accordingly, start of the day BADGER was at price of $27.59 and now it trades at $22.60, at a decline of 15.60%

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.