Crypto Hackers Steal $120 Million After Hacking DeFi Site BadgerDAO—Here's How

Cryptocurrency hackers steal $120 million after a massive heist that silently took over the website of a DeFi platform known as BadgerDAO.

Crypto Hackers Steal $120 Million

A still unknown hacker was able to carry out a massive heist that drained the crypto wallet of dozens of users after forcing their accounts to transfer the money to the crypto address of the criminal minds, as per the report by The Verge.

According to PeckShield, Badger is already working with them to perform a probe of the recent heist involving numerous users of the latter.

The data analytics and blockchain security firm, PeckShield, further revealed that the total loss from the crypto wallets of the users of the DeFi platform has already ballooned to a total of $120.3 million.

To be precise, the hackers took home a whopping 2,100 BTC tokens, along with 151 ETH in total, which are millions of dollars in value.

PeckShield further pointed out that one single transaction was worth to the tune of $50 million or a total of 896 Bitcoin.

Crypto Hackers Took Over DeFi Site

Although the investigation has yet to come to a conclusion, Badger already told its users about its initial findings regarding the massive crypto hack.

The DeFi platform believes that the hackers stuffed a malicious script in the user interface of its website without them noticing.

According to the news story by Motherboard, the cyber attackers went on to target the web infrastructure of BadgerDAO through its Cloudflare account, which is the content delivery network or CDN of the DeFi platform.

One of the core team members of Badger who goes by the name Jonto told Motherboard in the same report that the malicious script that was stuffed in the website of BadgetDAO was meant to trick its users.

The script specifically tricked its users to approve a request to send their hefty amounts of crypto savings to the address of the hacker.

On top of that, the team also discovered that the malicious code of the hackers has been there since Nov. 10.

It turns out that the crypto hacker found a way to avoid detection. The cyber attackers only ran the script at random intervals to steer clear of being caught.

However, it is worth noting that Badger was only able to freeze its platform after the hackers have already taken away $120 million worth of crypto.

Crypto Hack

It is actually not the first time that a crypto heist went on to steal millions worth of crypto from a DeFi platform.

In fact, last Aug. 18, another DeFI platform, Poly Network, even invited its hacker with a job offer after stealing and returning $600 million worth of crypto from its platform.

This article is owned by Tech Times

Written by Teejay Boris