blog post that: 

The exploit was caused by a smart contract bug that allows the sold and bought token to be the same. In the case of the attack, it was our native MONO token. When a swap was taking place and tokenIn was the same as tokenOut, the transaction was permitted by the contract.

On the other hand, Igor Igamberdiev, an IT security researcher on Twitter was able to break down the stolen tokens. According to Igamberdiev’s tweet, the hackers managed to steal:

  1. – 5.7M MATIC ($10.5M)
  2. – 3.9k WETH ($18.2M)
  3. – 36.1 WBTC ($2M)
  4. – 1.2k LINK ($31k)
  5. – 3.1k GHST ($9.1k)
  6. – 5.1M DUCK ($257k)
  7. – 4.1k MIM ($4.1k)
  8. – 274 IMX ($2k)

BadgerDAO $120 million Breach

Apparently, On November 27th, BadgerDAO’s customers on Discord alerted admins of unusual spend requests; however, these alerts were brushed off by one of the admins going by Discord handle of Admin Blackbear as some random bug.

Resultantly, the “bug” turned out to be hackers attempting to steal funds.

Hackers steal $120m from Badger Defi and $30m from MonoX

Hackers steal $120m from Badger Defi and $30m from MonoX

Although BadgerDAO is yet to confirm the exact amount of stolen funds, reports indicate that hackers managed to steal $120 million after targeting the protocol on the Ethereum network at contract address 0x1fcdb04d0c5364fbd92c73ca8af9baa72c269107.

In a tweet, the platform said that it has paused all smart contracts to prevent further withdrawals. 

Meanwhile, PeckShield Inc., a blockchain security and data analytics company managed to break down the stolen funds as shown in the screenshot below:

Hackers steal $120m from Badger Defi and $30m from MonoX

Hackers steal $120m from Badger Defi and $30m from MonoX is keeping an eye on the incident and will be updating you once BadgerDAO provides new details.

Did you enjoy reading this article? Like our page on Facebook and follow us on Twitter.

Posted by Charlie