ChainBleedv0.1 · open intel
← back to feed·ETHFLASHLOAN2022-04-17 · 4y ago
Incident · SLOWMIST

Beanstalk

Flash loan attack
Estimated loss
$182.00M
VERDICT —UNRATED
Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.
▰ METHOD
FLASHLOAN
FLASHLOANBYTECODE CATCHABLEAI SCANNABLE
Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

▰ PROOF OF CONCEPT
DEFIHACKLABS
src/test/2022-04/Beanstalk_exp.sol
view forked test on github ↗

Reproducible Foundry test fork from SunWeb3Sec/DeFiHackLabs. Clone the repo, run forge test against the file path above, and replay the exploit against a mainnet fork at the historical block. Use for reproduction only — not for live targets.

Forensic narrative

The protocol loss caused by the flash loan attack of Ethereum-based algorithm stablecoin project Beanstalk Farms is about 182 million US dollars. The specific assets include 79238241 BEAN3CRV-f, 1637956 BEANLUSD-f, 36084584 BEAN and 0.54 UNI-V2_WETH_BEAN . The attackers made over $80 million, including about 24,830 ETH and 36 million BEAN. The main reason for this attack is that there is no time interval between the voting and execution of the proposal, so that the attacker can directly execute malicious proposals without community review after completing the voting. Attack method (per SlowMist): Flash loan attack. Reported loss: $ 182,000,000.

Primary source
https://twitter.com/BlockSecTeam/status/1515683983836979201
Sourced from
slowmist
Technical record
chain
ethereum
protocol
Beanstalk
bug_class
flashloan
date_occurred
2022-04-17
loss_usd
$182,000,000
source_id
sm:beanstalk::2022-04-17
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