Crypto lending firm Celsius reportedly affected by BadgerDAO exploit

Cryptocurrency lending platform Celsius has reportedly lost over $ 50 million to the Decentralized Financial Protocol (DeFi) BadgerDAO exploit.

As Cointelegraph reported on Thursday, the attack was aimed at the protocol on the Ethereum network. unconfirmed $ 120 million harvest in wealth.

According to a Redditor, the biggest alleged victim of the hack was an address that lost 896 Wrapped Bitcoin ($ 51 million). The address is said to be owned by Celsius “because it has interacted with other addresses that are known to belong to them”.

The address regularly trades with an address that Has a balance of 67 million US dollars, 40 million US dollars of which is the eponymous native token CEL from Celsius.

The address should also belong to Celsius as it is tied together to at least one address marked as Celsius Network Wallet 5 on Etherscan, as they share several large transactions.

“All of this means there is a good chance that the address that lost 900 BTC was owned by Celsius. Celsius has not yet confirmed anything so this is all speculation for now, so we don’t know for sure whether Celsius was affected or not, ”suggested the user.

Celsius did not immediately respond to Cointelegraph’s request for comment.

The first reports of BadgerDAO’s security breach surfaced in early December, with the log officially open announcement that it received multiple exports of unauthorized withdrawals of user funds on Wednesday. The Badger team continuation Investigated the problem and paused all smart contracts on the log to avoid further losses.

The Celsius token saw a significant drop in late November. To reach On November 25, the CEL fell to $ 4.5 the next day to $ 3.9 and has since rebounded slightly. At the time of writing, CEL is trading at $ 4.00 which is down about 9% in the last seven days but is up about 1% in the last 14 days.

14-day CEL token price. Source: CoinGecko

Related: DeFi Disasters: $ 31M in MonoX and BadgerDAO Losses Exceeds $ 120M

Celsius Network is a large crypto lending platform that allows users to earn interest on holding digital assets such as Bitcoin (BTC). The company has developed into one of the largest players in the DeFi area. smashed a valuation between $ 3.5 billion after expanding its $ 400 million Series B funding round from October to $ 750 million in late November.

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