Summary
bEarn.fi (BearnFi) is a Binance Smart Chain-based cross-chain yield farming and algorithmic stablecoin protocol that launched in late 2020. On May 16, 2021, an attacker exploited a smart contract denomination mismatch to drain approximately $10.85 million in BUSD from the protocol's bVaults via a flash loan attack. The project subsequently became inactive, with its native BFI token recording no price data after mid-2023 and a market capitalization of effectively zero. The entity has been flagged by ZachXBT.
Connected Entities
1 entitiesTimeline(8 events)
2020-11-01
bEarn.fi protocol launches on Binance Smart Chain, offering cross-chain yield farming, algorithmic stablecoin, and related DeFi products.
2021-01-01
bEarn.fi January review published; CertiK audit of the bDollar smart contract reported as in progress but not yet completed.
2021-05-16
Flash loan exploit occurs at 10:36:20 AM UTC. Attacker borrows 7.8M BUSD from Cream Finance and executes 26-30 deposit/withdrawal cycles against the bVaults BUSD Alpaca strategy, draining approximately $10.85 million in BUSD.
2021-05-16
bEarn team freezes all bVaults, contacts Binance to flag attacker address 0x47f341d896b08daacb344d9021f955247e50d089, and engages CertiK and PeckShield.
2021-05-17
bEarn team publishes post-mortem and announces 105% compensation plan for affected users: 87.5% BUSD + 7.5% BDOv2 immediately, 10% BDEX vested over 80 weeks.
2021-05-17
PeckShield publishes technical analysis confirming root cause as inconsistent asset denomination (BUSD vs ibBUSD) between BvaultsBank and BvaultsStrategy contracts.
2021-05-17
Yearn Finance developer Banteg criticizes bEarn's immediate compensation promise, warning it creates a distorted perception of risk for DeFi users.
2023-08-10
Last recorded price data for BFI token per market data aggregators. Protocol activity effectively ceases with market capitalization falling to zero.
Decision Log
- hash: 8wQsopnGnzdfKkfa2P1PvU34YALR2EADxKRZKXidJTDZ
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:57 AM
last updated: 5/21/2026, 6:45:40 PM
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