Tapioca DAO, a decentralized money market protocol on LayerZero, experienced a security breach on Oct. 18, leading to a significant drop in the value of its TAP token. Cyvers, a blockchain security firm, disclosed that the breach was linked to North Korea suspects. The attacker manipulated the vesting contract's ownership by exploiting a vulnerability in the protocol's deployer address, resulting in the unauthorized withdrawal of over 21 million TAP tokens. The stolen tokens were exchanged for 591 ETH, causing a 93% crash in TAP's value. The attacker further transferred some assets to BNB Chain using Stargate. The breach's estimated losses range from $16.9 million to potentially $38 million. Hacken, a Web3 security auditor, warned users about phishing attempts and advised against interacting with suspicious links. The incident highlights the importance of vigilance and asset protection in the DeFi space. Read more AI-generated news on: https://app.chaingpt.org/news