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On August 26, Senior Colonel Zhai Shichen, spokesperson for the Southern Theater Command of the Peoples Liberation Army, stated that from August 21 to 25, the Southern Theater Command organized naval and air forces to conduct routine patrols in the South China Sea. The Philippines, by rallying external countries, is stirring up trouble in the South China Sea and organizing so-called "joint patrols," undermining regional peace and stability. The Theater Command troops will resolutely defend national territorial sovereignty and maritime rights and interests, and firmly safeguard regional peace and stability.On August 26th, to ensure the safety of railway transportation and passenger travel, the railway department closely monitored the changes in the path of Typhoon Saudel and its subsequent impact, promptly activated the typhoon and flood prevention emergency response, and adopted measures such as advance warning and proactive risk avoidance. Train schedules were adjusted, with temporary suspensions planned for certain sections and time periods on the Hangzhou-Wenzhou High-Speed Railway, Hangzhou-Taizhou High-Speed Railway, Jinhua-Wenzhou Railway, Jinhua-Taizhou Railway, and Ningbo-Jinhua Railway from August 27th to 28th, and on the Hangzhou-Shenzhen Railway from August 27th to 29th. Moving forward, the railway department will closely monitor the typhoons path and dynamically adjust train schedules based on wind speed, rainfall, and the severity of the disaster to ensure the safe travel needs of passengers.On August 26, the State Council Taiwan Affairs Office held a regular press conference. Recently, the Taiwan General Chamber of Commerce released its "2026 White Paper," which focuses on cross-strait policy under the theme of "Confidence and Steadfastness, Building a New Landscape for Cross-Strait Development." The white paper continues to recommend simplifying the review process for mainland professionals traveling to Taiwan, expresses the industrys strong desire for improved application procedures for mainland residents to visit Taiwan, and hopes to create a more stable cross-strait relationship through people-to-people exchanges. What is your comment on this? Spokesperson Zhang Han stated that compatriots on both sides of the Taiwan Strait are one family and should maintain frequent exchanges and closer ties. The Taiwanese business community hopes for smooth and active cross-strait exchanges, which is the will of the people and an inevitable trend. For a long time, we have upheld the concept of "both sides of the Taiwan Strait are one family," actively promoting exchanges and cooperation in various fields and continuously taking measures to facilitate exchanges between people on both sides. We hope the DPP authorities will listen to the voices of the industry and promptly abolish unreasonable restrictions that hinder cross-strait exchanges, thus facilitating cross-strait communication and integration.On August 26th, the Bank of Japan (BOJ) announced that policy board member Naoki Tamura would represent Governor Kazuo Ueda at the Jackson Hole Economic Symposium this week. Due to a scheduling conflict, Ueda will not attend the meeting. No media interviews are scheduled for Tamura during the symposium. It is rare for a BOJ policy board member to attend the Jackson Hole symposium; usually, the governor or one of two deputy governors attend. Tamura is considered a hawkish member of the BOJs policy board and has publicly advocated for interest rate hikes every few months to address upside risks to prices. Analysts say that comments from Federal Reserve Chairman Warsh in his first Jackson Hole speech on the monetary policy outlook will have a significant impact on Japan through fluctuations in the yen and bond yields. Uedas absence shifts market focus to whether he will attend next weeks G20 finance ministers and central bank governors meeting hosted by the United States. Furthermore, BOJ Deputy Governor Ryozo Himino will also speak and hold a press conference on Thursday, where he may signal the possibility of a rate hike next month.On August 26, Liu Yulin, Director of the Information and Communication Development Department of the Ministry of Industry and Information Technology, said at a press conference held by the State Council Information Office on the theme of "Starting the 15th Five-Year Plan" that during the 15th Five-Year Plan period, efforts will be accelerated to tackle key 6G technologies, continuously carry out 6G technology trials and standard development, promote the maturity of the 6G industry and the construction of its ecosystem, and prepare for the commercial use of 6G.

Ethereum Stablecoin Dapp Loses Over $180 Million in Exploit

Cory Russell

Apr 19, 2022 10:57


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For the first time, the protocol's TVL has topped $150 million.


Furthermore, the exploiter made a $250k donation to the Ukraine Crypto Donation.


The Beanstalk Farms, an Ethereum-based Decentralized Finance (DeFi) scheme, was targeted for $182 million today, demonstrating that 2022 isn't taking a break from crypto cyber attacks.


Beanstalk Farms was the victim of a $182 million hack in which over 24.8 thousand ETH and 36 million BEAN were stolen.


The protocol's TVL just surpassed $150 million for the first time.


In addition, the exploiter donated $250k to the Ukraine Crypto Donation.


Another Ethereum-based Decentralized Finance (DeFi) scheme dubbed the Beanstalk Farms was attacked for $182 million today, indicating that 2022 isn't taking a holiday when it comes to crypto cyber assaults.


April Witnesses Its First Major Attack

According to Peckshield Inc., a blockchain security and data analytics business, an unusual transaction occurred on Ethereum, which was reported to the Dapp.


Millions of dollars were exchanged in Ethereum (ETH), BEAN, DAI, and USDT.


Closer examination revealed that the transaction was the result of the exploit, which was subsequently validated by the protocol. Beanstalk Farms announced the hack on Twitter, saying, "Beanstalk experienced an exploit today." The Beanstalk Farms team is investigating the incident and will inform the community as soon as possible... We're putting in every effort to make progress. We're asking the DeFi community and specialists in chain analytics to assist us restrict the exploiter's capacity to withdraw assets through CEXes as a decentralized initiative. If the exploiter is willing to talk, we are as well."


According to Peckshield, the hack was carried through via BIP18's flash loan aided pass. The hacker initially withdrew over 100 ETH worth $291k, which served as the attack's starting funding.


The hack's profits were more than $80 million, which were placed in Tornado Cash. The hacker even contributed $250k to the Ukraine Crypto Donation out of the $80 million.


Overall, the hacker made off with $24,830 worth $72.4 million and another 36 million BEAN, which was worth $36 million before yesterday but is now only worth $4.36 million.


The onslaught had such a strong impact on the price action that the coin ended up shedding more than 86 percent of its original $1.1 value and is now trading at $0.12.

Hacks and Exploits Emerging From?

While no one organization can be blamed for this incident, North Korea is notorious for large-scale hacking.


The Lazarus gang, which is controlled by the governing party, was also responsible for the largest attack in crypto history, in which Axie Infinity's Ronin Network lost $625 million.


In 2021, the hackers exploited more than $400 million in digital assets on their own, and they continue to bring attention to themselves. The Lazarus Group will be motivated to carry out additional such hacks if North Korea seems to be utilizing this cash to boost its missile development.

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