The decentralized autonomous organization (DAO) called Badgerdao has disclosed that it has “received reports of unauthorized withdrawals of user funds.” The analytics team Peckshield estimates that over $120 million was siphoned in the Badgerdao breach.
Badgerdao Suffers $120 Million Exploit — Engineers Pause Smart Contracts
According to the official Badgerdao Twitter account, the team has noticed reports of unauthorized withdrawals from the protocol’s system. “Badger has received reports of unauthorized withdrawals of user funds,” the team stressed on Tuesday evening at 11:30 p.m. (EST). “As Badger engineers investigate this, all smart contracts have been paused to prevent further withdrawals. Our investigation is ongoing and we will release further information as soon as possible,” the team added.
The analytics firm Peckshield told its 22,000 Twitter followers the estimated damage from the Badgerdao breach. “Here is the current whereabouts as well as the total loss:
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