back to article BadgerDAO DeFi defunded as hackers apparently nab millions in crypto tokens

BadgerDAO, maker of a decentralized finance (DeFi) protocol, said on Wednesday that it is investigating reports that millions in user funds have been stolen. "As Badger engineers investigate this, all smart contracts have been paused to prevent further withdrawals," the company wrote in a Twitter post. "Our investigation is …

  1. Ace2 Bronze badge

    Yup

    “If translated to fiat currency…”

    The jokes almost write themselves.

  2. Sorry that handle is already taken. Silver badge
    Trollface

    Hah.

    Why does this keep happening?

  3. John Brown (no body) Silver badge

    It's funny how all these people sound the same.

    I wonder if any of them ever tried to sell a MONOrail?

  4. Alistair
    Windows

    what was that that spiralled out of control?

    I dunno folks, I think the virtual currency thing is about as solid as my bronze drake in WoW or my dark larion in FFXIV

  5. Richocet

    I worked in the finance industry for 10 years and IT for 20. I would not touch crypto with a bargepole and I kind of understand it. Why do so many people who don't understand how crypto works speculate in it or trust it. Dunning-Kruger effect?

    1. batfink Silver badge

      No it's just the Greater Fool Theory at work, which has been known about in Finance circles since God was a boy.

    2. X5-332960073452
      Mushroom

      ^^^ this - "who don't understand"

  6. redpawn Silver badge

    Does this mean

    I can put all my money out in the cloud, where it will be safe, rather than under my bed? My mattress is getting lumpy.

  7. YetAnotherJoeBlow Bronze badge

    Crazy is it not?

    Throughout my career, many have criticized me that I am too under-invested. I buy stocks long term and some treasury notes. My whole life. I have missed out on a lot.

    I can sleep at night. My retirement will be very nice.

    1. X5-332960073452
      Meh

      Re: Crazy is it not?

      While the merry-go-round keeps spinning

  8. Anonymous Coward
    Anonymous Coward

    'DAO' *and* 'Crypto'

    Should have read these warning signs.

  9. Andy The Hat Silver badge

    It is becoming more apparent that the phrase "wallet filled with digital currency" is the financial equivalent of "Boy racers who remove their headlights to save weight".

  10. Doctor Syntax Silver badge

    "a malicious script injected into their app's web-based interface"

    Really? Whoever heard of such a thing?

  11. Anonymous Coward
    Anonymous Coward

    Not to worry... UK and other governments are looking at issuing their own crypto currencies so we will be able to sleep soundly at night...

    1. yetanotheraoc Silver badge

      ooh I can't wait

      "governments are looking at issuing their own crypto currencies"

      Hey, Mikey! Let's wire up the Treasury to the internet! Because gambling no-one can steal the Cloudflare keys is way more exciting than gambling on share prices going up or down.

      Darn, craps again....

  12. Anonymous Coward
    Anonymous Coward

    Crypto. The concept which makes Revolut seem almost respectable.

  13. Anonymous Coward
    Anonymous Coward

    A DAO.. with the ability for someone with central control to hit the pause button on all contract operation for the entire currency? Sounds a bit dodgy to me.. the mere fact there is a pause button the developers (or anyone else in receipt of a court order) can push hints it's not quite fully decentralised.. or autonomous..

    You either live and die by the sword (of buggy contracts) or you're just waving a cheap stainless-steel prop imitation.

  14. Andrew Dancy

    Aaah! A snake!

    I can't believe no-one has commented on the sub-heading for the article when you see it on the main news page. I've just wasted several minutes reliving my youth as a result! https://www.youtube.com/watch?v=EIyixC9NsLI

    1. X5-332960073452
      Thumb Up

      Re: Aaah! A snake!

      Badger, badger, badger, coin theft, coin theft!

      I thought it should have ended - Squirrel !!

  15. FrankAlphaXII

    Self-awareness in naming

    Spiral? How appropriate.

    Graveyard Spiral

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2022