Crypto Thieves Get Bolder by the Heist, Stealing Record Amounts

velvetsea Elementus

Cryptocurrency hacks are getting bigger.  On Sunday, a hacker exploited a new algorithmic stablecoin project called Beanstalk and drained it of $182 million worth of digital assets.  Hackers are finding larger exploits amid the increase of decentralized finance, or DeFi, projects. Hackers tend to target new protocols that haven’t been fully tested and vetted, said Max Galka, chief executive of crypto forensics firm Elementus.

Read WSJ article here.