@gnuel77
How Beanstalk’s $182M Hit Could’ve Been Stopped
April 2022, Beanstalk farms DAO got wrecked.
An attacker took a massive flash loan, uses it to grab majority voting power, pushes a malicious proposal, and drains $182M.
All in the open. Everyone could see the votes coming but there was nothing to stop it in time.
Wish they had Aztec at the time cos Aztec’s model could’ve helped the situation
With sealed voting on Aztec:
Votes stay encrypted until the reveal phase.
No one can tally in real time and spot a hostile takeover as it happens.
Attackers can’t coordinate mid-process, because the mempool isn’t broadcasting their moves.
it’s like voting for a new mayor, but no one sees the ballots until polls close.
And because Aztec proofs are public, you’d still verify every vote was valid. just without leaking who did what before it’s over.
Beanstalk’s hack wasn’t about broken code, it was about the dangers of default public everything.
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