Beanstalk Hacked For $182M Through Mixer
“Beanstalk” — the stablecoin protocol based on the Ethereum network — lost $182 million due to a hacker attack.
According to an analysis by PeckShield Inc., “Beanstalk” (a credit-based decentralized stablecoin protocol) lost about $182 million. The analytical company wrote about this on its Twitter account:
The hacker successfully stole about $80 million through the Tornado Cash cryptocurrency mixer. The remaining funds were in the form of drained liquidity connected to the protocol’s governance token.
As for the attack itself, the data indicate that the hacker used an accumulation of governance tokens — obtained through a flash loan — to create a fake protocol improvement proposal to gift funds held in «Beanstalk» to an address used to raise donations for the government of Ukraine.
Without permission, decentralized systems remain vulnerable not only to technical hacks, but also to financial manipulation by larger players. In a similar hack this month more than 15 million was stolen from DeFi platform Inverse Finance.
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