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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
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November 21, 2022
Welcome to the October 2022 Recap Newsletter! We hope everyone is safe & sound. Despite November being one of the wilder months in a while (given all the news), last month was a strong one for crypto.
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