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DeFi Project Beanstalk Loses $182 Million in Flash Loan Attack

  • Hacker gets away with $80 million, donates $250,000 to Ukraine
  • Beanstalk’s stablecoin token BEAN fell about 75% from $1 peg
relates to DeFi Project Beanstalk Loses $182 Million in Flash Loan Attack

Decentralized finance project Beanstalk Farms suffered one of the largest-ever flash-loan exploits on Sunday, sending its price tumbling. 

The credit-focused, Ethereum-based stablecoin protocol suffered a total loss of around $182 million and the attacker got away with around $80 million of crypto tokens, according to blockchain security firm PeckShield, which had flagged the incident on Twitter. The project’s native token BEAN fell about 75% from its $1 peg against the dollar, pricing from CoinGecko showed.