{"id":313423,"date":"2021-12-06T12:07:07","date_gmt":"2021-12-06T17:07:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=313423"},"modified":"2021-12-06T12:07:07","modified_gmt":"2021-12-06T17:07:07","slug":"celsius-network-reportedly-lost-50m-during-the-120m-badgerdao-hack","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/celsius-network-reportedly-lost-50m-during-the-120m-badgerdao-hack","title":{"rendered":"Celsius Network reportedly lost $50M during the $120M BadgerDAO hack"},"content":{"rendered":"
On-chain data has revealed that the BadgerDAO hack resulted in a $50M loss for the Celsius network. This means that Celsius, a crypto lending firm, was the largest victim of the hack.<\/p>\n
The $55M loss suffered by Celsius Network was in Wrapped Bitcoin (wBTC)<\/a>.<\/p>\n BadgerDAO suffered a major hack<\/a> where around $120M was stolen from the decentralized autonomous organization. BadgerDAO is a protocol that allows users to use Bitcoin<\/a> as collateral for DeFi applications.<\/p>\n The hacker exploited the DAO’s front end, leading to notable losses. Investigations on this hack are still ongoing with the assistance of analytics experts from Chainalysis.<\/p>\nHacker stole $120M worth of wBTC<\/h2>\n