The biggest victim from BadgerDAO was a wallet that belonged to Celsius Network, the crypto lending firm

On-chain data shows that the worst victim of the front-end attack of the BadgerDAO, a Bitcoin-centric decentralized finance project built on the Ethereum blockchain, is a wallet belonging to Celsius Network, a cryptocurrency lending company.

Celsius Network reportedly lost $50 million in the $120 million BadgerDAO hack

It looks like This week’s BadgerDAO hack the hardest hit Celsius Network. As AZCoin News reported, the company reportedly lost $55 million in Wrapped Bitcoin (wBTC).

The attacker compromised the DAO’s user interface. The BadgerDAO team is currently investigating the attack with the help of blockchain experts from Chainalysis.

Some users have constantly received unusual requests for additional permissions in their accounts. The attacker added a script to the interface to trick users into giving them access to withdraw funds from their wallets easily.

Engineers from BridgerDAO have suspended all smart contracts to prevent further withdrawals while analysts from Chainalysis investigate the incident. At first, the amount stolen was estimated at around $100 million, but new data from blockchain security firm PeckShield indicates that the total damage amounted to more than $120 million.

This hack occurred shortly after MonoX, a DeFi financial protocol, hacked over 30 million on November 30.

One user lost 896 wBTC (about $51 million) and became the biggest victim of the hack. Etherscan indicates that addresses starting with 0x534 can be associated with the Celsius Network. It traded with other wallets owned by the lending company, one of which was tagged as “Celsius Network Wallet 5”.

In a Twitter thread, a user named BigTimeCali shared some of the transactions made by this wallet. He added that Celsius had deleted any comments related to the hack on their Reddit page.

The address owner appears to be a large whale that typically executes seven-figure transactions and works closely with a wallet of over $67 million, $40 million of which is held in CEL tokens. This is not a conclusion. However, somewhere suggests that Celsius Network may be the owner behind this wallet. The lender, however, declined to make any statements about the hack.

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