The project was initially developed to balance supply and demand considerations for various crypto assets. The attack was said to have netted close to $80 million in profits for the hackers as the rest of the funds were apparently used for a “flash loan” aimed at bankrolling the takeover.
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'Flash Loan' Used to Take Over Majority Stake in Beanstalk Farms, $182M Stolen As Result
Decentralized Finance project Beanstalk Farms was ripped off for $182 million in an attack on the project’s “majority vote governance system.” So reports The Verge.
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