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Clever Cryptocurrency Theft
published on 2022-04-20 13:57:49 UTC by Bruce SchneierContent:
Beanstalk Farms is a decentralized finance project that has a majority stake governance system: basically people have proportional votes based on the amount of currency they own. A clever hacker used a “flash loan” feature of another decentralized finance project to borrow enough of the currency to give himself a controlling stake, and then approved a $182 million transfer to his own wallet.
It is insane to me that cryptocurrencies are still a thing.
https://www.schneier.com/blog/archives/2022/04/clever-cryptocurrency-theft.html
Published: 2022 04 20 13:57:49
Received: 2022 04 25 18:26:46
Feed: Schneier on Security
Source: Schneier on Security
Category: Cyber Security
Topic: Cyber Security
Views: 2
