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December 05, 2021

BadgerDao gets hacked

BadgerDao was exploited by hackers that infiltrated the front-end website where users deposit and transact. The exploit led to $120M in funds being lost by the protocol. Celsius, the mainstream app is estimated to have lost $50M in the hack. The hack shows the infancy of the current market and risks that many users may face.

Ember prides itself on sticking with blue-chip protocols that have been pressure tested and hold the largest TVL in the Ethereum ecosystem. Since nothing in crypto is 100% safe, it’s important to mitigate investment risk whenever possible by always doing the due diligence around auditing and security.

Harsharn Singh
Investment Associate | Ember Fund

Thank you for reading!

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