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

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