Core DAO CORE Token Hits All-Time Low After $1.47 Million Exploit on Bitcoin Staking Protocol
Core DAO's CORE token plunged 12% to a new all-time low after an attacker drained 97 million CORE tokens, worth approximately $1.47 million, from Bitcoin staking protocol b14g on October 31. The incident triggered further selling pressure, leaving the token 99.8% below its 2023 peak of $6.14 and down more than 22% over the past week.
According to information shared by Coin Bureau, the attacker exploited a vulnerability in the protocol's staking withdrawal mechanism to remove funds from 91 separate staking orders. The incident involved a withdrawal request that specified zero CORE tokens, which the staking code reportedly interpreted as a request to withdraw the entire amount held in each order.
How the b14g Exploit Worked
The attacker reportedly targeted b14g, a Bitcoin staking protocol, by submitting withdrawal requests containing a zero-token amount. Rather than treating the requests as invalid or interpreting zero as no withdrawal, the protocol's staking code processed them as instructions to release all available funds associated with the affected orders.
According to data attributed to Bitquery, the attacker used this mechanism to empty 91 staking orders. The transactions resulted in the removal of 97 million CORE tokens, with the stolen assets valued at approximately $1.47 million.
The reported sequence highlights how an unexpected interpretation of a withdrawal parameter can create a significant security risk in blockchain-based financial applications. In this case, the distinction between a zero-value withdrawal and a full-balance withdrawal became central to the incident.
CORE Token Falls to a Record Low
The security incident coincided with a sharp decline in CORE's market price. The token dropped 12%, reaching an all-time low as selling pressure intensified following news of the stolen funds.
The latest decline extends an already difficult period for the asset. CORE is now approximately 99.8% below its 2023 peak of $6.14, representing a substantial reversal from its previous market valuation. The token has also lost more than 22% over the past week alone.
These figures illustrate the scale of CORE's recent market weakness. The additional 12% decline following the reported exploit pushed the token to a new price low, adding to losses accumulated since its 2023 high.
Security Concerns Surround the Staking Incident
The reported exploit places the withdrawal logic of b14g at the center of attention. The attacker did not need to request a conventional positive withdrawal amount. Instead, the reported method relied on the protocol interpreting a zero-CORE request as permission to withdraw markets the entire balance of an affected staking order.
Coin Bureau shared the incident details, citing Bitquery for information about the 91 emptied staking orders and the withdrawal mechanism involved. The reported stolen amount was 97 million CORE tokens, valued at $1.47 million at the time of the incident.
CORE's latest market decline leaves the token 99.8% below its 2023 peak of $6.14, following a 12% drop to an all-time low and losses exceeding 22% over the past week.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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