Celsius Network fell victim to a $50 million BadgerDAO exploit

Crypto lending firm Celsius lost $50 million in BadgerDAO exploit according to reports.


According to sources, the decentralized finance (DeFi) protocol, BadgerDAO lost $50 million in an attack on the Celsius Network. This protocol is on the Ethereum Network and has experienced security breaches that led to the loss of $120 million worth of assets before, but this has not been confirmed yet, according to Cointelegraph.

One hack victim address lost 896 Wrapped Bitcoin ($51 million) says a Redditor, and it is assumed that it belongs to the Celsius firm "since it has interacted with other addresses known to be owned by them."

It’s interesting to know that this address has been trading with another holding a handsome $67 million. $40 million of the whole is in CEL, Celsius’ eponymous native token.

The address is believed to be held by Celsius, since it is linked to at least one other account labeled as Celsius Network Wallet 5 on Etherscan, and the two addresses share numerous significant transactions.

The Redditor also said:

"All this means that there's a high chance that the address that lost 900 BTC was owned by Celsius. Celsius has not confirmed anything yet, so this is all speculation, for now, so we don't know for sure if Celsius was affected or not."

This allegation has remained unanswered to the moment by Celsius. This, however, is not the first time BadgerDAO has been attacked. It was breached in early December and users’ funds were stolen several times on Wednesday, as was mentioned on BadgerDAO’s Twitter.


Source: BadgerDAO’s Twitter

CEL saw a significant drop around the end of November. On November 25, it was trading at $4.5, but on November 26, it fell to as low as $3.9. Right now, CEL is trading at $4, which is 9% higher than that of the past 7 days.



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Celsius Network


Crypto Hack