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Another hack Defi Protocol Beans Loses $80M in Flash Loan Hack

 


As a result of an exploit, hackers stole around 80 million US dollars from the Beanstalk Farm liquidity pool of the algorithm-based stable coin protocol Bean (BEAN).

The DeFi lending protocol lost more than 24,830 Ethereum (ETH) and a good 36 million bean tokens as a result of a so-called flash loan attack. The ether portion was sent directly to the coin-mixing platform Tornado-Cash for concealment.

The attackers completely emptied the protocol contract. The Beanstalk Farms team is trying to identify more details in an analysis that has been initiated.

The type of attack used here, a targeted attack via so-called flash loans , has been a popular approach for scammers in the DeFi sector since 2020.

Large -scale flash loan attacks on the Binance Smart Chain (BSC) caused a stir last year. A total of around USD 1 billion in damage was stolen from various DeFi projects.

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