Ethereum’s Beanstalk decentralized credit-based steblecoin protocol was hacked Sunday morning.
The attacker managed to steal more than $80 million worth of cryptocurrency, and in particular, the hacker stole 24830 ETH and protocol management tokens.
Transaction data shows that the attacker began transferring funds to a Tornado Cash mixer.
According to The Block, the fraudster obtained the control tokens using instant credit. He was then able to use the tokens to create a bogus proposal to improve a charitable foundation for Ukraine.