Mimblewimble-based privacy coin Beam (BEAM) experienced a 7% price slump earlier today due to large offloading by a single wallet address. The offloaded assets were stolen in a phishing attack that occurred on February 15. The attacker made away with over 180 million BEAM tokens in two transactions. The assets were worth roughly $5.14 million at the time of the incident. To secure the funds, the malicious actor quickly sold the 180.25 millionBEAM for 1,629 ether (ETH) worth roughly $4.6 million.
Source: Mandy Williams, 2024-02-17; https://cryptopotato.com/heres-why-beams-price-dropped-7-today/