Major Security Breach: 21 Million TAP Tokens Stolen from TapiocaDAO Amidst Sudden Contract Changes

On October 18, COINOTAG disclosed that Cyvers Alerts identified a series of suspicious transactions related to TapiocaDAO. Concerns arose as the deployer address appeared compromised, with the contract ownership reportedly altered. In a troubling development, the hacker is believed to have siphoned approximately 21 million TAP tokens, subsequently converting them into 591 ETH. This illicit action triggered a dramatic depreciation in TAP’s value, plummeting by 93%. Furthermore, the hacker utilized Stargate to facilitate the laundering of stolen funds, intensifying ongoing discussions about security protocols within decentralized finance platforms. The incident underscores the paramount importance of rigorous oversight and the need for enhanced security measures to protect crypto assets from potential threats and vulnerabilities.