The cryptocurrency realm has seen a string of thefts recently related to flash loans
WSJ’s Dion Rabouin looks at the future of cryptocurrencies.
Photo composite: Elizabeth SmelovA hacker who robbed the decentralized stablecoin platform Beanstalk in April had a powerful tool: a $1 billion loan taken out with no collateral, no proof of income and no identity verification. The loan had to be repaid in less than a second, but that was all that was needed to steal tens of millions of dollars.—a cheap, instant and anonymous form of financing based on cryptocurrencies.
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