After Axie Infinity, hackers again drained hundreds of millions of dollars in cryptocurrency

Recently, security company Peckshield has announced that Blockchain project Beanstalk Farms has been hacked. This is a credit-based decentralized stablecoin.

According to Peckshield, the aftermath of the attack caused Beanstalk Farms to have more than $80 million in crypto stolen, including 24,830 Ethereum and 36 million stablecoins BEAN. The amount of money that the bad guys took away in reality may be even larger because the scale of the case has not been fully calculated yet.

Notably, in the latest announcement, Peckshield said the damage of Beanstalk Farms is much larger than the amount stolen by the hacker.

Specifically, it is estimated that the protocol lost at least $182 million, which includes $80 million in cryptocurrencies and the rest is about $100 million in transaction fees, swaps on protocols like Aave. , Sushiswap, CurverFinance, Uniswap.

On its official Twitter page, the Beanstalk Farms development team confirmed the aforementioned incident. This unit said that it is conducting an investigation into the attack and will notify the community as soon as possible.

A preliminary source said that the cause of the attack was that this project was exploited by a security hole through the flashloan feature that has just been integrated on Beanstalk Farms. The account making this loan is currently being monitored.

This was the third serious attack against crypto projects carried out in about a month.

Before that, an attack that caused damage up to 620 million USD was carried out against the game Axie Infinity. Just a few days later, more than 15 million USD was also stolen from the decentralized finance protocol Inverse Finance.

Notably, the hacker is “laundering” the money stolen from Beanstalk Farms through the Tornado Cash mixer. There are now just over 10,000 Ethereum left in the hacker’s wallet.

The speed of “money laundering” in this case is done very quickly. It seems that the hacker is trying to get rid of the stolen money at all costs before his account is blacklisted by exchanges. This mentality is understandable because before that, the online community had closely monitored the hacker account that attacked Axie Infinity.

In the process of dispersing tens of millions of dollars, the hacker who attacked Beanstalk Farms also executed an order to transfer 250,000 USDC to a cryptocurrency account used to solicit support of the Ukrainian government.

Beanstalk Farms is calling for chain analysts to help it limit hackers’ ability to withdraw money through centralized exchanges.

It is not clear who attacked the Beanstalk Farms. However, with the case of Axie Infinity, the US Federal Bureau of Investigation (FBI) has concluded Lazarus hacker group believed to be of North Korean origin is the culprit behind the hack.

Trong Dat