The Celsius platform got affected by the $ 120 million attacks on BadgerDAO. Celsius has not confirmed the reports.
Cryptocurrency lending platform Celsius suffered part of the fallout from the recent attack on the decentralized finance protocol (DeFi) BadgerDAO.
The DeFi BadgerDAO protocol was the victim of a hack on Wednesday night that caused losses of USD 120 million. The investigations suggested that the attack took effect when the platform got broken and allowed hackers to extract funds from wallets.
Users highlighted that they dealt with various irregularities when interacting with the protocol. Many said they had received additional permission requests on their BadgerDAO-connected wallets. The team later confirmed the attack through its official Twitter channel, reporting that it had started an investigation.
Celsius was Also the Target of the Attack
While an investigation is ongoing, some more recent reports revealed that Celsius may have been affected by the exploit. According to Etherscan.io data highlighted by various users on social networks, the victim of the hack that received the most damage was an address from which just over USD 50 million got extracted and which allegedly has a link to Celsius.
According to various reports, the Ethereum address starting 0x534 saw the attacker drain 896.8 worth of wrapped bitcoins (WBTC) worth just over $ 51 million. The address transacts with an address that accounts for a balance of USD 67 million.
Additionally, the address also gets related to at least one other address labeled Celsius Network Wallet 5 on Etherscan.io, with which it shares several transactions.
The transactions between the address 0x534 led to speculation highlighting that the wallet got owned by Celsius. The address 0x534 currently has a balance of 10.8 ETH valued at a figure near $ 50,000.
Celsius Token Falls 3% Amid Reports
Celsius CEO Alex Mashinsky told Blockworks that the company would provide a statement on Friday. Meanwhile, the Twitter user identified as BigTimeCali, who had shared several of the transactions in a tweet thread, assured that Celsius removed questions related to the incident from his Reddit page.
Rumors about the loss of funds from Celsius arrived after the company expanded its Series B funding round from $ 400 million from October to $ 750 million at the end of November. The round raised the company’s valuation above $ 3 billion.
The reports about the hack might be affecting the price of the CEL token, which this Friday registers a 3% drop to trade at USD 3.9. Celsius Network is a big cryptocurrency lending platform that enables users to earn interest on holding digital assets such as Bitcoin and has become the first player in DeFi.
Last Friday, the BadgerDAO team reported in a tweet that the investigation into the incident is still ongoing. The developers are contributing with the Chainalysis security team to understand the scale of the attack. They have also requested the support of the authorities in Canada and the US.
By Jenson Nuñez
