The protocol’s token “BADGER” has dropped 16 percent following the attack and is also trading at around $20, according to CoinMarketCap. Badger Decentralized Autonomous Organization (DAO) allows the use of Bitcoin as collateral on DeFi applications. Data analytics firm PeckShield reported that the hack caused the firm to lose 2,100 Bitcoin and 151 Ethereum. The current price for Bitcoin is around $59,900 and that of Ethereum at $4,800.
the firm Told“Badger has assigned the responsibility of investigating this attack to data forensic experts. Authorities in the US and Canada have been informed about this, and Badger is cooperating with external investigations as well as investigating himself.”
There is a boom in the crypto market right now. According to market research tracker CoinGecko, it has a total market cap of around $3 trillion. Cybercriminals are targeting crypto holders, investors and exchanges to steal crypto assets. Ethereum-powered lending protocol, Cream Finance, lost $130 million in crypto assets in October in a major hack attack. The US Federal Bureau of Investigation (FBI) said last month that cybercriminals are using multiple methods to break into crypto assets. A recent report said that the total crime related to crypto was about $10.52 billion (about Rs 79,194 crore) last year. This caused losses to crypto exchanges as well as a large number of investors.
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