Crypto Hackers Steal $ 120 Million After Hacking DeFi BadgerDAO Site: Here’s How
Cryptocurrency hackers are stealing $ 120 million after a massive theft that silently took over the website of a DeFi platform known as BadgerDAO.
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(FILES) In this file photo taken on Aug 04, 2020, Prince, a member of the Red Hacker Alliance hacking group who refused to give his real name, is using his computer in their office in Dongguan, China’s Guangdong province, in the south of the country. – As the number of online devices increases and blazing-fast 5G connections unfold, a record number of companies are offering rewards of up to seven figures to ethical hackers who can successfully attack their cybersecurity systems.
Crypto hackers steal $ 120 million
A still unknown hacker was able to carry out a massive theft that emptied the crypto wallets of dozens of users after forcing their accounts to transfer money to the crypto address of criminal minds, according to The Verge report.
According to PeckShield, Badger is already working with them to investigate the recent heist involving numerous users of the latter.
Blockchain security and data analytics firm PeckShield further revealed that the total loss of crypto wallets from users of the DeFi platform has already totaled $ 120.3 million.
To be precise, the hackers won 2,100 BTC tokens, as well as a total of 151 ETH, worth several million dollars.
PeckShield further pointed out that a single transaction is worth up to $ 50 million or a total of 896 Bitcoin.
Crypto Hackers Took Over DeFi Site
Although the investigation has yet to be concluded, Badger has already shared its initial findings with its users regarding the massive crypto hack.
The DeFi platform believes the hackers inserted a malicious script into its website UI without realizing it.
According to the Motherboard report, the cyber attackers then targeted BadgerDAO’s web infrastructure through its Cloudflare account, which is the DeFi platform’s content delivery network or CDN.
One of Badger’s core team, named Jonto, told Motherboard in the same report that the malicious script on BadgetDAO’s website was intended to deceive its users.
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NEW YORK, NY – APRIL 15: A hacker using a laptop during the Hacked By Def Con press preview during the 2016 Tribeca Film Festival at Spring Studios on April 15, 2016 in New York City.
The script specifically tricked its users into approving a request to send their large crypto savings to the hacker’s address.
On top of that, the team also discovered that the malicious code from hackers had been there since November 10.
It turns out that the hacker found a way to avoid detection. Cyber attackers only executed the script at random intervals to avoid getting caught.
However, it should be noted that Badger was only able to freeze his platform after hackers had already taken $ 120 million worth of crypto.
Also read: Trojan Malware ‘Banking’ Affects Over 300,000 Android Users | List of apps to avoid on Google Play App Store
This is actually not the first time that a crypto heist has stolen millions of crypto from a DeFi platform.
In fact, last August 18, another DeFI platform, Poly Network, even invited its hacker with a job offer after they stole and returned $ 600 million in crypto on their platform.
Associated article: Crypto hackers now undetectable! Babadeda Malware Installer May Evade Antivirus Solutions, Experts Say
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Written by Teejay Boris
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