The latest exploit against a decentralized finance protocol has resulted in a loss of over $180 million for Beanstalk Farms.
Beanstalk Farms, an Ethereum-based stablecoin protocol, was exploited during the weekend, with the total losses skyrocketing to over $180 million. As a result, the native cryptocurrency plummeted by more than 80% in minutes.that it became the latest DeFi victim of a security breach.
The team initially said it had begun investigating the issue, while the blockchain security resource PeckShieldthat the attacker siphoned off at least $80 million, but the protocol’s losses were more significant. The company explained that the exploit became possible through a “flash loan-assisted pass of BIP18, which was submitted one day ago.”
2/ The hack is made possible due to the flashloan-assisted pass of BIP18, which was submitted one day ago (
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