Celsius Network confirms it lost money in the “BadgerDAO” hack
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Answer Celsius Network confirms it lost money in the “BadgerDAO” hack
Alex Mashinsky, CEO of cryptocurrency lending company Celsius, confirmed broadcast live Yesterday, the company lost money in the “BadgerDAO” hack earlier this week.
Mashinsky said:
We’re working with Badger to get all that money back.
We also cooperate with them in the investigation.
I want to make sure that every Celsius user understands, when things like this happen, we’re the ones who lose, you won’t lose because our job is to get the money back, our job is to work with these funds, pick the best from the bad and everything else.
According to Twitter speculators researching blockchain transactions, Celsius Network may have lost about $50 million as a result of the exploit.
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The “BadgerDAO” exploit was a front-end attack in which the attackers gained control of the main site.
When the users went to conduct transactions, the attacker altered the nature of the transactions to steal the funds.
In total, the protocol lost $120 million.
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