Tapioca DAO faced a major attack resulting in a $4.5 million cryptocurrency loss, yet managed to save 1,000 ETH through coordinated efforts.

Details of the Attack and Losses

The attack on Tapioca DAO was executed by hijacking the vesting contract, allowing the attacker to access and sell 30 million TAP tokens. Initially valued at approximately $1.40, the tokens' value dropped to less than $0.04. The attacker also took control of the USDO stablecoin contract, resulting in a loss of approximately $4.4 million, including $2.8 million in USDC and 1.6 million in ETH.

Response Measures and Recovery

Tapioca DAO's team coordinated asset recovery efforts with Fuzzland and emergency response group SEAL911. As a result, they secured 1,000 ETH from a vault and moved it to the DAO's multisig wallet. However, the remaining stolen assets are yet to be recovered, and the DAO currently holds $4.2 million in its treasury.

Suspicions and Investigation

Fuzzland and independent blockchain researcher ZachXBT raised the possibility of North Korean involvement, citing past cases of fake job scams used by the country to steal funds. However, conclusive evidence linking North Korea to the incident has not been established.

Despite the partial recovery of funds, Tapioca DAO continues to work on retrieving the rest of the assets, highlighting the complexity and challenges in confronting such threats in the digital financial world.