Ether-based stablecoin protocol Beanstalk drops from its $1 peg after $182M attack

Decentralized credit based stablecoin protocol Beanstalk Farms on Monday experienced a wipeout of $182M in a flash loan attack, according to the company's website. Of that total, the hacker gained $80M, including 24,830 Ether (ETH-USD) and 36M BEAN, according to blockchain security firm PeckShield's Twitter post. Apparently the hacker also donated $250K in stablecoin USDC (USDC-USD) to Ukraine amid Russia's attacks, PeckShield added. While stablecoins are usually advertised to be pegged one-to-one to a more "stable" asset, BEAN tokens are drooping nearly 65% to $0.138 against the U.S. dollar in midday trading, according to data from CoinGecko. “We are not aware of the identity of the individuals who were involved. Like all other investors in Beanstalk, we lost all of our deposited assets in the Silo, which was substantial,” the BEAN founders highlighted on Discord. Not that flash loans, unlike traditional lending, are DeFi smart contracts allowing users to borrow any available amounts