There have been a number of attacks on decentralized finance (DeFi) systems recently – and here is another. A hacker abused the smart contract system at Beanstalk Farms, a decentralized finance (DeFi) project and sent themselves $182 million.
Clever Cryptocurrency Theft – Schneier on Security
Beanstalk cryptocurrency project robbed after hacker votes to send themself $182 million – The Verge
Smart contracts use blockchain technology to maintain security but this hack is an abuse of the software that is used to put the smart contracts into the secure blockchain.
