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Beanstalk Farms loses $182M in DeFi governance exploit -Breaking


Beanstalk Farms suffers $182M loss in the DeFi governance exploit

Beanstalk Farms, a credit-based stablecoin protocol Beanstalk Farms suffered a breach of security due to two evil governance proposals as well as a flash loan attack.

Probable governance caused the problems in the protocol ProposalsBIP-18 and BIP-19 were issued April 16th by an exploiter asking for the protocol to transfer funds to Ukraine. According to smart contract auditor, these proposals were attached with a malicious rider which created the sinkhole in funds. BlockSec.