Hackers drain $182 million from Ethereum-based beanstalk farms
Beanstalk Farms, a Ethereum ETH/USD based on the DeFi protocol, suffered an exploit on Sunday.
What happened: According to an update from the blockchain security firm Peck Shieldhackers drained $182 million from the protocol through a flash loan exploit.
— PeckShieldAlert (@PeckShieldAlert) April 17, 2022
The attackers were able to personally earn $80 million worth of cryptocurrency, which they laundered through the coin mixing tool. Tornado Cash RIPPED/USDaccording to Peck Shield.
We are making every effort to try to move forward. As a decentralized project, we are asking the DeFi community and on-chain analysis experts to help us limit the exploiter’s ability to withdraw funds via CEX. If the exploiter is open to discussion, so are we. https://t.co/fwceVz6hbi
— Beanstalk Farms (@BeanstalkFarms) April 17, 2022
Peck Shield also observed that hackers sent $250,000 worth of USD Coin USD/USD to the address of Ukraine Crypto Donation.
At the time of writing, Peck Shield discovered that there were 15,154 ETH left in the hackers’ account.
Beanstalk’s USD-pegged stablecoin fell 94% below its peg to hit a low of $0.06 following the news.
Price Action: According to data from BenzingaProETH was trading at $2,990, down 2.27% in the past 24 hours.