Glossary
Beanstalk Hack (2022)
The April 2022 governance attack on Beanstalk Farms — a flash-loaned supermajority vote drained ~$182M from the protocol's treasury in a single transaction.
Beanstalk Farms ran an algorithmic stablecoin protocol with on-chain governance using BEAN-3CRV LP tokens as the voting unit. On April 17, 2022, an attacker flash-loaned $1 billion across Aave, Curve, and Uniswap, used it to acquire a 79% supermajority, and executed a malicious proposal that transferred the treasury to themselves in one transaction.
The proposal was disguised as a humanitarian aid donation. The net theft was ~$182 million. The exploit became the textbook case for flash-loan governance attacks and pushed many protocols to add time-locks between proposal passage and execution.