Stablecoins didn’t have quite a good year so far. The dramatic collapse of Terra, a popular stablecoin, triggered a destructive crypto crash. Flagship currencies, Bitcoin and Ethereum, suffered great ...
Tag: 182M
Beanstalk Farms: Fraudster exploits worth $182M due to governance exploit
TL;DR Breakdown A governance flaw has led to a big exploit in the collateral of the Beanstalk Farms. The malicious actors took benefit of the possible breach in the collateral system, wiping it. The d...
Credit-Based Stablecoin Beanstalk ($BEAN) Hacked for $182M
Beanstalk, a decentralized credit-based stablecoin protocol that is built on the Ethereum network, suffered a security exploit this weekend. Blockchain security firm PeckShield reported that Beanstalk...
Beanstalk Farms Loses $182M Through Governance Exploit
Beanstalk Farms became the latest high-profile Decentralized Finance (DeFi) exploit as malicious actors exploited the protocol’s governance system to extract all of its collateral. A Sinister Governa...
Stablecoin Protocol Beanstalk Loses $182M in Flash Loan Attack
Ethereum-based stablecoin protocol, Beanstalk Farms has fallen to be victim to a cyberattack as hackers drained $182 million in cryptocurrencies Cryptocurrencies By using cryptography, virtual curre...
Beanstalk Farms loses $182M in DeFi governance exploit
Credit-based stablecoin protocol Beanstalk Farms lost all of its $182 million collateral from a security breach caused by two sinister governance proposals and a flash loan attack. The problem for the...
Attacker Drains $182M From Beanstalk Stablecoin Protocol
According to the summary, the attacker took out a flash loan on lending platform Aave which enabled them to amass a large amount of Beanstalk’s native governance token, Stalk. With the voting power gr...