Schneier - Clever Cryptocurrency Theft

Beanstalk Farms is a decentralized finance project that has a majority stake governance system: basically people have proportiona 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.



from Schneier on Security https://www.schneier.com/blog/archives/2022/04/clever-cryptocurrency-theft.html

Comments

Popular posts from this blog

KnowBe4 - Scam Of The Week: "When Users Add Their Names to a Wall of Shame"

Krebs - NY Charges First American Financial for Massive Data Leak

SBS CyberSecurity - In The Wild 166