North Korea links suspected in $5 million breach of Tapioca DAO
Tapioca DAO, a decentralized money market protocol on LayerZero, experienced a security breach that led to a 90% drop in its TAP token value. The breach, revealed by Cyvers on October 18, involved the compromise of the protocol's deployer address, allowing unauthorized changes to the vesting contract. The attacker withdrew over 21 million TAP tokens using an emergency function and exchanged them for 591 ETH, causing a 93% decline in TAP's price. Total losses from the breach are estimated at $16.9 million by Cyvers and potentially up to $38 million by Hacken. Users are warned about phishing attempts linked to the breach. Speculation exists regarding a connection to North Korean state-sponsored actors, but no conclusive evidence has been found.
