According to Foresight News, Cyvers Alerts disclosed the details of the TapiocaDAO attack. The deployer address of TapiocaDAO has been leaked, the owner of the contract has been changed, and the new owner of the contract has withdrawn more than 21 million TAP tokens through emergency rescue. The suspicious address has exchanged all TAP tokens for 591 ETH, causing the TAP token to fall by 93%. The suspicious address then used Stargate to cross-chain funds to BNB Chain. Currently, the address on BNB Chain holds about $4.7 million worth of BSC-USD and USDC.

According to ZachXBT, the TapiocaDAO hack was likely the result of malware downloaded by team members, as the theft was linked on-chain to other recent hacks such as Nexera, Concentric, Masa, SpaceCatch, Reach, Serenity Shield, MurAll, etc. that it had previously reported.

Foresight News previously reported that TapiocaDAO was suspected of being attacked, 591 ETH (about 1.55 million US dollars) were transferred out, and TAP plummeted 94% in a short period of time.