Beanstalk Farms

Beanstalk Farms Lost $182 Million Due To The Governance Mechanism

April 17, 2022
Attack Types: 
Flash Loan Attack
Entity Types: 
DeFi ,Yield Aggregator
Target Entities: 
Beanstalk Farms

Summary # On April 17, 2022, Beanstalk Farms, an Ethereum-based DeFi protocol that enables users to earn yield on their cryptocurrency deposits, fell victim to a flash loan attack. This attack resulted in a staggering loss of $182 million, including around $77 million in assets taken from liquidity pools unrelated to Beanstalk. The attacker managed to profit from the exploit, absconding with 24,840 ETH, equivalent to roughly $80 million. The remaining $106 million was returned via a flash loan to Aave, the lending platform. ...