Ethereum-based stablecoin protocol Beanstalk loses more than $80 million to exploit

Ethereum-based stablecoin protocol Beanstalk loses more than $80 million to exploit

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Beanstalk, a credit-focused stablecoin protocol built on Ethereum, was exploited Sunday morning.

The attacker obtained more than $80 million worth of crypto, including 24,830 ETH — an amount worth roughly $75.8 million as of press time. The remainder of the exploited funds were in the form of drained liquidity connected to the protocol’s governance token.

Transaction data indicates that the exploiter has since begun moving funds to Tornado, an Ethereum-based mixer that…


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