The address is also alleged to be owned by Celsius as it is related to at least one address that is tagged as Celsius Network Wallet 5 on Etherscan as they share several major transactions.
Cryptocurrency lending stage Celsius has apparently lost more than $50 million in the endeavor of decentralized finance (DeFi) protocol BadgerDAO. As detailed by Cointelegraph on Dec. 2, the assault targeted the protocol on the Ethereum network, procuring an unverified $120 million in assets. According to one Redditor, the greatest affirmed casualty of the hack was a location that lost 896 Wrapped Bitcoin ($51 million). The location should be owned by Celsius since it has interfaced with different addresses known to be possessed by them. The address consistently executes with a location that has a $67 million total, $40 million of which is Celsius’ eponymous native token CEL.
Suggestion For You:
“All this means that there’s a high chance that the address who 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,” the user suggested.
Celsius did not immediately respond to Cointelegraph’s request for comment.
The first reports on BadgerDAO’s security breach surfaced in early December, with the protocol officially announcing that it received multiple exports of unauthorized withdrawals of user funds on Wednesday. The Badger team continued investigating the issue and paused all smart contracts on the protocol to avoid any further losses.
The Celsius token experienced a notable drop in late November. After reaching $4.5 on Nov. 25, CEL dropped to as low as $3.9 the next day, slightly recovering since then. At the time of writing, CEL is trading at $4.00, which is down around 9% over the past seven days but up around 1% over the past 14 days.
Celsius Network is a major crypto lending platform, allowing users to earn interest on holding digital assets like Bitcoin (BTC). The company has emerged as one of the biggest players in DeFi, smashing a valuation between $3.5 billion after expanding its $400-million Series B funding round from October to $750 million in late November.
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week