WebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
ADVERTISE
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
WebsCrypto
News

Stablecoin Project Beanstalk to Relaunch Four Months After Attack Damaged $182M

By WebsCryptoAugust 7, 20221 Min Read
Stablecoin Project Beanstalk to Relaunch Four Months After Attack Damaged $182M
Share
Facebook Twitter Telegram LinkedIn Reddit Email

Stablecoin project Beanstalk is set to restart four months after it was compromised by an attack that damaged $182 million. The project will be restarted, according to a statement from the project. Those holding more than 99 percent of the project’s Stalk tokens supported the restart in a vote that ended Friday.

Beanstalk said in the statement that changes to the project’s code have been audited by the two companies, and governance has been moved to a community-run multi-signature wallet until a secure on-chain governance mechanism can be implemented.

The Beanstalk team started the process of restarting the Stablecoin back in May, when it proposed to raise $77 million in over-the-counter loans from private investors. In April of this year, Beanstalk was attacked by a flash loan, losing nearly $182 million.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin Crypto Cryptocurrency
Related News

US Government Seizes $5.6 Billion Worth of Bitcoin in Three High-Profile Cases

CFTC Defines Bitcoin, Ethereum and Litecoin as Commodities, Not Securities

Balmain Launches Limited Edition NFT Series Unicorn Phygit Wearable Collection

Timothy Peterson Claims 6 Million Bitcoins Are Lost Forever

Why Is the CFTC Suing Binance?

Venezuelan Regulators Shut Down Cryptocurrency Exchanges, Mining Farms

The Latest
Markets March 28, 2023
US Government Seizes $5.6 Billion Worth of Bitcoin in Three High-Profile Cases
Markets March 28, 2023
CFTC Defines Bitcoin, Ethereum and Litecoin as Commodities, Not Securities
Business March 28, 2023
Balmain Launches Limited Edition NFT Series Unicorn Phygit Wearable Collection
News March 28, 2023
Timothy Peterson Claims 6 Million Bitcoins Are Lost Forever
Opinions March 28, 2023
Why Is the CFTC Suing Binance?
Block 3000

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter LinkedIn Telegram RSS
Categories
  • News
  • Markets
  • Business
  • Markets
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Tags
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Regulation
  • Policy
About
  • About Us
  • Contact Us
  • Advertise
  • Crypto Prices
  • Privacy Policy
  • Terms of Service
© 2023 WebsCrypto.

Type above and press Enter to search. Press Esc to cancel.