Ethereum protocol Beanstalk exposed to $80 million exploit

Home / Ethereum protocol Beanstalk exposed to $80 million exploit

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.

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