2024-10-21
Rekt
Tapioca DAO
#Cryptocurrency
#TapiocaDAO
Tapioca DAO
#TapiocaDAO
- Reported: 2024-10
- Locations: United States
- Motivations: #FinancialGain
- Sectors: #Cryptocurrency
Summary
In October 2024, Tapioca DAO on Arbitrum was hacked, losing $4.4 million due to a private key compromise. The attacker exploited the vesting contract and minted quintillions of USDO stablecoin, causing a 97% drop in TAP token value. The funds were bridged to the BNB Chain. Tapioca later managed to recover 1,000 ETH by "hacking the hacker," with $4.2 million now secured in their treasury. The incident hints at potential North Korean hacker involvement.