Decentralized protocol Beanstalk has lost over $180 million due to a flash loan attack, the second largest to hit the DeFi ecosystem this year. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cybersecurity
📍DeFi protocol Beanstalk was hacked for over $180 million. Security firm PeckShield has identified the second largest hack of this year in the ecosystem DeFi. The stablecoin protocol Beanstalk has suffered a hack, the result of a flash loan attack, which allowed the attacker to extract cryptocurrencies, of the protocol with a value of more than 180 million dollars.
The attacker requested a loan through the decentralized protocol Aave, the cybersecurity firm reported.
The project developers tweeted that they are collaborating with the authorities and the exchanges to limit the hacker's ability to exchange the funds. However, security firm PeckShield notes that some $80 million has already been exchanged through the Tornado Cash mixing platform.
The rest of the funds stolen from Beanstalk were reportedly used to repay the loan requested from Aave and cover commission fees. In addition, the firm notes that the attacker has sent around $250.000 as aid funds to Ukraine.
After the attack became known, the BEAN stablecoin lost almost all of its value. BEAN plummeted from $1 to less than 1 cent in just a few minutes. However, according to data from CoinGecko, the stablecoin is currently trading at a price of $0,13 per unit.
NFT and DeFi Markets
📍Hyundai to launch its first NFT collection in collaboration with Meta Kongz. Carmaker Hyundai is set to become one of the first companies in the automotive industry to launch an NFT collection. As reported by the company on Twitter, where it has created an account called Hyundai_NFT, the digital collectibles will be designed in partnership with the Hyundai_NFT project. metaverse Meta Kongz and will be available next May.
Hyundai has released a teaser for its upcoming virtual world, called Hyundai Metamobility, which features a Meta Kongz character driving one of its iconic cars, the Hyundai Pony.
Miners and Node Validators
📍Bitcoin mining company Core Scientific reports daily on its mining output on the network. Core Scientific, the Nasdaq-listed company, is the first Bitcoin mining company in report its daily BTC production.
The initiative taken by this company seeks to improve transparency in this area of activity in the crypto industry. Core Scientific is reporting the amount of BTC mined per day on the blockchain network through its web portal.
Rules and Regulations
📍Iran government tightens restrictions on Bitcoin minersBitcoin mining farms in Iran that use subsidized energy to sustain their network operations face excessive penalties and sanctions from the government, leading to fines and prison sentences.
Iran wants to combat illegal energy use in Bitcoin mining amid a nationwide energy crisis. Mohammad Khodadadi, a representative of Iran's Power Generation, Distribution and Transmission Company, said local outlet Tehran Times said the country's subsidized energy is intended only for domestic, industrial and commercial use and not for Bitcoin mining.
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