Audit log

Every state-changing event for Badger DAO: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-20 18:44:22Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 421,042,224

   sig

   2gGwd9wmDB8T…N4WYx8Pmcopyexplorer ↗

   hash

   HDmkvyYASoNN…Kmp9Sar9copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (7419 B) ▸

   {"actor":"system:backfill","investigation_id":"5b1809fe-7e2c-473d-8f92-a6b7c0dce49b","kind":"publish","page_slug":"badger-dao","published_at":"2026-05-20T18:44:22.484Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Badger DAO","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://badgerdao.medium.com/introducing-badger-dao-ed47a586c619"},{"credibility":3,"name":"","type":"other","url":"https://www.kraken.com/learn/what-is-badger-dao"},{"credibility":3,"name":"","type":"other","url":"https://iq.wiki/wiki/badgerdao"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/business/2021/12/10/badgerdao-reveals-details-of-how-it-was-hacked-for-120m"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-badgerdao-hack-december-2021"},{"credibility":3,"name":"","type":"other","url":"https://zengo.com/the-badgerdao-hack-what-really-happened-and-why-it-matters/"},{"credibility":3,"name":"","type":"other","url":"https://www.bloomberg.com/news/articles/2021-12-10/badgerdao-says-cloudflare-flaw-led-to-130-million-heist"},{"credibility":3,"name":"","type":"other","url":"https://www.theblock.co/post/126072/defi-protocol-badgerdao-exploited-for-120-million-in-front-end-attack"},{"credibility":3,"name":"","type":"other","url":"https://beincrypto.com/badgerdao-post-mortem-details-fourth-largest-defi-exploit/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://blockworks.co/news/hackers-drain-115-million-from-bitcoin-defi-focused-badgerdao"},{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/markets/2021/12/03/crypto-lender-celsius-admits-losses-in-120m-badgerdao-hack"},{"credibility":3,"name":"","type":"other","url":"https://cryptopotato.com/celsius-network-reportedly-lost-50-million-in-the-120-million-badgerdao-hack/"},{"credibility":3,"name":"","type":"other","url":"https://www.chainalysis.com/blog/chainalysis-podcast-episode-6-badgerdao-hack/"},{"credibility":3,"name":"","type":"other","url":"https://forta.org/blog/how-to-derail-a-120-million-dollar-hack/"},{"credibility":3,"name":"","type":"other","url":"https://dailycoin.com/single-user-loses-50-million-bitcoin-in-badger-dao-hack/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/tech/2021/12/16/after-130m-hack-badgers-restitution-plan-tests-limits-of-dao-governance"},{"credibility":3,"name":"","type":"other","url":"https://ambcrypto.com/badgerdao-reveals-cause-behind-exploit-details-recovery-plan/"},{"credibility":3,"name":"","type":"other","url":"https://forum.badger.finance/t/bip-77-reactivate-smart-contracts-and-recover-funds/5178"},{"credibility":3,"name":"","type":"other","url":"https://www.dirtybubblemedia.com/p/an-inexplicable-error-cost-celsius"},{"credibility":3,"name":"","type":"other","url":"https://www.hoptrail.io/post/badgerdao-exploit-illustrating-celsius-poor-controls"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://defillama.com/protocol/badger-dao"},{"credibility":3,"name":"","type":"other","url":"https://www.tradingview.com/news/coindar:c3b007e7c094b:0-badger-dao-to-be-delisted-from-binance-on-april-16th/"},{"credibility":3,"name":"","type":"other","url":"https://www.cryptotimes.io/2025/04/09/binance-to-delist-14-tokens-after-community-vote/"},{"credibility":3,"name":"","type":"other","url":"https://coinmarketcap.com/cmc-ai/badger-dao/latest-updates/"},{"credibility":3,"name":"","type":"other","url":"https://redefine.net/media/badger-dao-attack/"},{"credibility":3,"name":"","type":"other","url":"https://www.microsoft.com/en-us/security/blog/2022/02/16/ice-phishing-on-the-blockchain/"}]}],"sources_used":[],"summary":"Badger DAO is a decentralized autonomous organization and DeFi protocol launched in December 2020 focused on generating yield on Bitcoin-backed assets via Ethereum-based vaults. In December 2021, a front-end attack exploiting a compromised Cloudflare API key resulted in approximately $120–130 million in user funds being drained across roughly 500 wallets. As of 2025, the protocol has seen significant decline: its flagship eBTC product was sunset, BADGER was delisted from Binance, and total value locked has fallen to low single-digit millions.","timeline":[{"date":"2020-09-01","event":"Badger DAO founded by Chris Spadafora, Ameer Rosic, Albert Castellana, and Alberto Cevallos.","source":""},{"date":"2020-12-01","event":"Badger DAO publicly launches with BADGER token fair distribution and Sett Vaults product.","source":""},{"date":"2021-08-01","event":"Alleged: Three unauthorized accounts created and granted Cloudflare API keys without authorization, exploiting a flaw in Cloudflare's email verification process.","source":""},{"date":"2021-09-15","event":"Badger team unknowingly completes account creation for one of the pre-seeded compromised Cloudflare accounts.","source":""},{"date":"2021-11-10","event":"Attacker begins periodically injecting malicious JavaScript via Cloudflare Workers into BadgerDAO's web application routes.","source":""},{"date":"2021-11-20","event":"Attacker obtains the first successful unauthorized ERC-20 approval from a user wallet.","source":""},{"date":"2021-12-01","event":"Largest single victim — a wallet alleged to be associated with Celsius Network — approves attacker access to 896 Wrapped Bitcoin (~$50 million). Attacker begins mass withdrawal of funds across all accumulated approvals.","source":""},{"date":"2021-12-02","event":"BadgerDAO detects the exploit and freezes all smart contract transferFrom calls, halting further theft. PeckShield estimates losses of approximately 2,100 BTC and 151 ETH (~$120 million).","source":""},{"date":"2021-12-03","event":"Celsius Network publicly confirms it suffered losses in the BadgerDAO exploit.","source":""},{"date":"2021-12-10","event":"BadgerDAO publishes post-incident disclosure attributing the breach to a compromised Cloudflare API key and maliciously injected script.","source":""},{"date":"2021-12-16","event":"Governance proposals BIP-76, BIP-77, and BIP-78 introduced to authorize seizure of ~$9.2 million in recoverable attacker-held vault tokens and begin restitution.","source":""},{"date":"2022-01-01","event":"Protocol relaunches after third-party audits of web2 and web3 infrastructure are completed.","source":""},{"date":"2022-07-01","event":"Celsius Network files for bankruptcy. Subsequent reporting reveals Celsius forfeited ~$22 million in BadgerDAO restitution entitlements due to an administrative error in its claims process.","source":""},{"date":"2025-04-16","event":"Binance delists BADGER following a community vote-to-delist, citing low trading volume and development activity.","source":""},{"date":"2025-06-11","event":"BadgerDAO Treasury Council announces sunset of the eBTC protocol, citing failure to achieve product-market fit and insufficient TVL to sustain revenue.","source":""},{"date":"2025-06-17","event":"Crypto.com delists BADGER token.","source":""},{"date":"2025-07-25","event":"OKX announces delisting of BADGER/USDT perpetual contracts.","source":""}]},"v":1}

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2. #2rescoreby systemsystem

   2026-10-10 18:48:47Z
   Score: 10 → 62 (+52)
   Rescored under Scoring v2, the published formula (avoid.net/scoring): 10 → 62. Problems weighed by who is responsible: incidents the subject suffered −6.4, concerns that are not fraud −3.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +8.
   anchoranchored

   chain

   ●mainnet-betaslot 455,368,635

   sig

   GwvczU822KNS…fyugb2WBcopyexplorer ↗

   hash

   GWFMscYPcC1Q…FXgQRATtcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (641 B) ▸

   {"actor":"system","decided_at":"2026-10-10T18:48:47.540Z","decision":"rescore","investigation_id":"5b1809fe-7e2c-473d-8f92-a6b7c0dce49b","new_score":62,"page_slug":"badger-dao","prev_score":10,"reason":"Rescored under Scoring v2, the published formula (avoid.net/scoring): 10 → 62. Problems weighed by who is responsible: incidents the subject suffered −6.4, concerns that are not fraud −3.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +8.","score_delta":52,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3reviewby reviewerreviewer

   2026-11-02 00:48:52Z
   Score: 62 → 62 (no score change)
   The core hack narrative (Dec 2, 2021 front-end attack via compromised Cloudflare API key, ~$120-130M, ~$9M recoverable) and the Celsius ~$22M forfeiture are supported by sources I reached. The Binance delisting date is confirmed. The June 2025 eBTC sunset, with its date and Treasury Council attribution, could not be found in any source and is unsourced on the timeline. The summary's 'low single-digit millions' TVL overstates the decline relative to ~$12.9M current TVL. Many detailed hack-timeline dates and the 500-wallet count were not in the sources I could read.
   anchoranchored

   chain

   ●mainnet-betaslot 464,299,456

   sig

   FKU4yMoMjaAY…VeYocMdKcopyexplorer ↗

   hash

   FLN9XjKHzcGf…kVLAryP6copysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1383 B) ▸

   {"actor":"reviewer","artifact_identity":"fe5c8dcaa0620769e37aa8951ad2571b","decided_at":"2026-11-02T00:48:52.197Z","decision":"review","disputed_pct":0.4286,"findings_hash":"HTDcTgeVanqqKChiDEbP5RpYZ78p1jn3GbhdLhHYvazo","investigation_id":"5b1809fe-7e2c-473d-8f92-a6b7c0dce49b","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":62,"page_content_hash":"bbfe168c42df5637ebafbff13959a980b9eef2167dd21079d270797d60a50407","page_slug":"badger-dao","prev_score":62,"reason":"The core hack narrative (Dec 2, 2021 front-end attack via compromised Cloudflare API key, ~$120-130M, ~$9M recoverable) and the Celsius ~$22M forfeiture are supported by sources I reached. The Binance delisting date is confirmed. The June 2025 eBTC sunset, with its date and Treasury Council attribution, could not be found in any source and is unsourced on the timeline. The summary's 'low single-digit millions' TVL overstates the decline relative to ~$12.9M current TVL. Many detailed hack-timeline dates and the 500-wallet count were not in the sources I could read.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"sequence_num":3,"subject_status":"operating","subject_status_contradicts_page":false,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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4. #4review reviseby judgejudge

   2026-11-02 00:48:52Z
   Score: 62 → 62 (no score change)
   Of 7 checked claims, 3 could not be verified (claim_findings[1], [3], [4]), about 43%, which falls in the significant-issues band. The core hack narrative (Dec 2, 2021 front-end attack, roughly $120-130M, compromised Cloudflare key) and the Celsius and Binance claims were confirmed. The June 2025 eBTC sunset appears in the timeline and the Risk Assessment with no supporting source found (claim_findings[3], [4]), and the summary's 'low single-digit millions' TVL was only partially supported against a current figure near $12.9M (claim_findings[6]). Because the reviewer's confidence was moderate (0.5), the unverified hack-timeline dates may simply come from sources the reviewer did not reach, and no omissions or status contradictions were found, the penalty sits at the lower end of the band.
   anchoranchored

   chain

   ●mainnet-betaslot 464,299,462

   sig

   3QcohfcBDT4p…13NQ1KVYcopyexplorer ↗

   hash

   62eeJYFngkPv…zAadXmeqcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1443 B) ▸

   {"actor":"judge","artifact_identity":"fe5c8dcaa0620769e37aa8951ad2571b","band_override":null,"decided_at":"2026-11-02T00:48:52.197Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.4286,"investigation_id":"5b1809fe-7e2c-473d-8f92-a6b7c0dce49b","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":62,"page_slug":"badger-dao","prev_score":62,"reason":"Of 7 checked claims, 3 could not be verified (claim_findings[1], [3], [4]), about 43%, which falls in the significant-issues band. The core hack narrative (Dec 2, 2021 front-end attack, roughly $120-130M, compromised Cloudflare key) and the Celsius and Binance claims were confirmed. The June 2025 eBTC sunset appears in the timeline and the Risk Assessment with no supporting source found (claim_findings[3], [4]), and the summary's 'low single-digit millions' TVL was only partially supported against a current figure near $12.9M (claim_findings[6]). Because the reviewer's confidence was moderate (0.5), the unverified hack-timeline dates may simply come from sources the reviewer did not reach, and no omissions or status contradictions were found, the penalty sits at the lower end of the band.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"sequence_num":4,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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5. #5rescoreby systemsystem

   2026-11-02 00:48:53Z
   Score: 62 → 65 (+3)
   Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 62 → 65. Problems weighed by who is responsible: incidents the subject suffered −6.4, problems around the subject, caused by others −1.6; legitimacy credit long-running +8; 1 section(s) set aside until a failed fact-check is resolved.
   anchoranchored

   chain

   ●mainnet-betaslot 464,299,467

   sig

   2gnAhPoZzNJL…T2fcd5p2copyexplorer ↗

   hash

   Fa6KYc1GhrvA…Kdrrf4eXcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (717 B) ▸

   {"actor":"system","decided_at":"2026-11-02T00:48:52.197Z","decision":"rescore","investigation_id":"5b1809fe-7e2c-473d-8f92-a6b7c0dce49b","new_score":65,"page_slug":"badger-dao","prev_score":62,"reason":"Recalculated after the fact-check of 2026-11-02. Rescored under Scoring v2, the published formula (avoid.net/scoring): 62 → 65. Problems weighed by who is responsible: incidents the subject suffered −6.4, problems around the subject, caused by others −1.6; legitimacy credit long-running +8; 1 section(s) set aside until a failed fact-check is resolved.","score_delta":3,"score_model":"v2","sequence_num":5,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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