DeFi protocol BadgerDAO has confirmed a security incident after reporting unauthorized withdrawals of user funds. In response, the team said it has paused all smart contracts while engineers investigate the issue and work to prevent any additional losses.
Estimated damage tops $120 million
Blockchain security and analytics firm PeckShield estimated the total losses from the exploit at roughly $120.3 million. According to the firm, the stolen assets included around 2,100 BTC and 151 ETH, putting the incident among the more significant DeFi breaches reported at the time.
BadgerDAO said it began taking emergency action after receiving reports of suspicious withdrawals from its system. In its public statement, the team said the investigation was ongoing and that more information would be released as soon as possible.
User frustration moves to Discord
As news of the exploit spread, users flooded social media with complaints, with some claiming major losses and others questioning the safety of decentralized finance platforms. While individual claims have not been independently verified, the reaction showed the level of concern among BadgerDAO users affected by the incident.
At the time of the report, BadgerDAO had not issued a more detailed public update beyond its initial statement. The protocol’s website directed users to its official Discord channel, where most of the ongoing discussion appeared to be taking place. Many users also expressed frustration over losing access to Badger vaults and pool rewards.
The key questions now center on how the exploit happened, where the funds moved, and what steps the project may take next. For the market and affected users, the next official update from BadgerDAO will be critical.