Crypto Hack Costs Tapioca DAO $4.5M, TAP Price Crashes by 96%

According to recent reports, a crypto hack targeting Tapioca DAO resulted in the loss of $4.5 million worth of cryptocurrencies. The hacker exploited the DAO’s vesting contract and the USDO stablecoin contract, accessing 30 million TAP tokens, which had a value of approximately $1.40 each before the attack. These tokens, now worth less than $0.04, were quickly liquidated, causing a massive crash in the token’s value.

In total, the attacker walked away with $4.4 million. This included $2.8 million in USDC and $1.57 million in Ethereum, which were swapped into USDT and later bridged to the Binance Smart Chain. As a result of this exploit, TAP Price dropped by over 96%, falling from $1.50 to $0.046 in just 24 hours. This event also triggered a 12,916% increase in trading volumes due to increased market activity as traders reacted.#MemeCoinTrending #GrayscaleConsiders35Cryptos #TeslaTransferBTC #USRetailSalesBoost