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Hackers have stolen nearly $180 million in cryptocurrency from <keyword id="13647448" type="General" weightage="50" keywordseo="beanstalk-farms" source="Orion">Beanstalk Farms</keyword>, a decentralised finance (De-Fi) project. <keyword id="791782" type="General" weightage="80" keywordseo="beanstalk" source="Orion">Beanstalk</keyword> operates a system where participants earn rewards by contributing funds to a central funding pool that is used to balance the value of one token at close to $1, reports The Verge. "Beanstalk suffered an exploit. The Beanstalk Farms team is investigating the attack and will make an announcement to the community as soon as possible," the company admitted in a tweet. The hackers exploited Beanstalk's majority vote governance system, a core feature of many DeFi protocols. The attack was first spotted by blockchain analytics company PeckShield. The Beanstalk attacker "used a flash loan obtained through the decentralised protocol Aave to borrow close to $1 billion in cryptocurrency assets and exchanged these for enough beans to gain a 67 per cent voting stake in the project". The attacker then instantly repaid the flash loan, netting an $80 million profit, the report said. In January this year, hackers stole <keyword id="2721952" type="General" weightage="100" keywordseo="crypto" source="Orion">crypto</keyword> tokens worth $120 million from Blockchain-based decentralised finance (DeFi) platform BadgerDAO. Several crypto wallets were drained before the platform could stop the cyber attack. In December last year, cyber criminals stole cryptocurrency worth $80 million from <keyword id="13064561" type="General" weightage="50" keywordseo="qubit-finance" source="Orion">Qubit Finance</keyword>, a decentralised finance (DeFi) platform. The US this week blamed North Korean hacker group Lazarus for stealing $625 million in cryptocurrency from the Ronin Network, owned by developer group Sky Mavis. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/all-you-need-to-know-about-crypto-staking-and-why-people-are-jumping-on-this-bandwagon/articleshow/90914740.cms">All you need to know about crypto staking and why people are jumping on this bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/crypto-and-gold-prices-will-go-higher-if-the-fed-is-forced-to-raise-its-inflation-target-to-3-says-mohamed-el-erian/articleshow/90921159.cms">Crypto and gold prices will go higher if the Fed is forced to raise its inflation target to 3%, says Mohamed El-Erian</a>

Hackers steal crypto worth $180 million from Beanstalk Farms, a decentralized finance project

<ul class="summary-list"><li>Julie Love helps run Microsoft's quantum computing business as its senior director of quantum business development.</li><li>Microsoft <a href="https://www.businessinsider.com/ibm-google-microsoft-intel-quantum-computing-2019-3">is one of many companies</a> trying to build quantum computers capable of processing exponentially more information than traditional computers.</li><li>Quantum computing is in such early stages, much of it is still theoretical. It presents a big opportunity for people from many different disciplines to make a career in the field, which is expected to one day upend industries like finance, medicine, and retail. </li><li>Love told Business Insider how she got to where she is, and what jobs are available in quantum computing.</li><li><a href="https://businessinsider.com/">Visit Business Insider's homepage for more stories.</a></li></ul>Julie Love is one of the top names inside Microsoft. And what she works on is so technologically challenging, even <a href="https://www.businessinsider.com/bill-gates-says-cant-understand-quantum-computing-slides-2017-9">Bill Gates has said it's beyond his comprehension</a>.Love runs Microsoft's emerging quantum computing business as the group's senior director. She was one of just five women physicists graduating in the discipline's class of 50 while pursuing her Ph.D.Quantum computing is a type of computing that can process exponentially more information than traditional computers. The technology is in such early stages, much of it is still theoretical. However, when it hits the mainstream - likely in a few decades - it's expected to upend fields like finance, medicine, and cryptography, thanks to the sheer computing horsepower that only quantum-based systems can offer.Love spoke with Business Insider about the opportunity that exists in quantum computing, and how to make a career out of one of the most important emerging industries.<h2>The quantum computing opportunity</h2>To <a href="https://www.businessinsider.com/ibm-google-microsoft-intel-quantum-computing-2019-3">understand the opportunity in quantum computing</a>, it helps to understand a bit about how it works. The core of quantum computing centers around what are called "qubits," or quantum bits - essentially the building blocks of quantum computers. Bits used by classical computers are binary, either "0" or "1," like a light switch that's either on or off. A qubit has infinite potential values. It's like a beach ball, Love said, with a "0" at one end and a "1" at the other and the surface representing all the values in between. It can exist in multiple states at once.This theoretically allows quantum computers to process exponentially more information than a classical computer. Practical applications for quantum computing, Love said, could include solving hard problems like optimizing traffic in metropolitan areas and training machine learning models exponentially faster.Scientists and technologists are still only on the cusp of quantum computing, Love said.Microsoft is taking <a href="https://www.businessinsider.com/ibm-google-microsoft-intel-quantum-computing-2019-3">a unique approach to the technology</a>. The company is building a topological qubit, which would fragment electrons to store information in multiple places at the same time. If it works, it would be more stable and less prone to collapse - solving a major challenge in the field today. While this technology is less proven than what rivals are building, Microsoft's approach could lead to a bigger payoff, experts say. It's hard to give a timeline, Love said, of when quantum computing will become more tangible - but there are career opportunities in the space right now.<h2>Building a diverse workforce</h2>Love grew up in Nebraska and went to an all-girls Catholic school. By the time she completed her doctorate, she didn't have a defined career path. "I left not really knowing what else to do," she said. "There weren't a lot of jobs in quantum computing."Love first worked out of Yale University as a quantum physicist before landing a job in semiconductor manufacturing at McKinsey, ultimately taking her into the corporate world, then to Adobe and Microsoft. This is her second stint at Microsoft, and she also advises quantum startups.Now, there are far more pathways to quantum computing jobs."The cool thing is it's so interdisciplinary," she said. "If was talking to a college student, I'd say, 'First and foremost, what are you excited to do? How do you want to spend your days? Do you want to be coming up with crazy new math? Do you want to do theoretical physics? Do you want to build stuff? Are you into mechanical engineering?"In her work, Love said she encounters people across many disciplines, from theoretical physicists, mathematicians. chip designers, quantum chemists and all kinds of engineers from mechanical, electrical, software and cryogenic.A crucial part of quantum computing, like any technology, will be including diverse backgrounds in its development. Engaging diverse employees is not only more equitable, but it improves the quality of the technology. Some facial recognition software built by mostly white engineers, for example, has failed to recognize black faces. "We are baking bias into the system by not having women have a seat at the table and not having people of color at the table," <a href="https://www.cnn.com/2019/05/06/success/melinda-gates-ai-gender-equality/index.html">Melinda Gates</a>, who is an advocate for getting more women into engineering, has said of emerging technology like AI.While Love said almost half of the people on Microsoft's quantum systems leadership are women, the company - much like the tech industry in general - still employs comparatively few women and people of color in technical roles.Love said it's the company's responsibility, and her own personally, to make quantum computing accessible to all."We need to create our future workforce, and more than that, if you have something that's very elite and something only existing physicists can use, we're not going to tap into that broader, more diverse population," Love said. "That's a big part of why we're building in this way."This interview is part of a partnership between Business Insider and Microsoft at the 2020 World Economic Forum. Business Insider editors independently decided on the topics broached and questions asked.<a href="https://www.businessinsider.com/intelligence/bi-intelligence-daily?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=microsoft&amp;itm_campaign=bi-intelligence-daily"></a>

Microsoft's quantum boss explains how she rose through the ranks at Microsoft and how to get a job in the hottest emerging tech field

Finance Insider is Business Insider's summary of the top stories of the past 24 hours.The world's biggest hedge fund thinks the next radical change in central bank policy is almost upon us.Bridgewater Associates sent a note to clients on Wednesday written by Greg Jensen, Jason Rotenberg and Jeff Amato. Jensen is Bridgewater's co-CIO and former co-CEO.The note said that central bank policies up until now - such as dropping interest rates and quantitative easing - haven't boosted economies enough. Policy makers need to try something radical - <a href="http://www.businessinsider.com/hedge-fund-bridgewater-on-central-bank-policy-2016-8">like putting money directly into consumers' hands</a>.One of the world's largest high-speed traders has 'opened up the kimono,' <a href="http://www.businessinsider.com/jpmorgan-partnering-with-virtu-2016-8">and it shows how Wall Street is changing</a>.A hedge fund backed by <a href="http://www.businessinsider.com/caste-hook-partners-sean-rhatigan-hire-from-och-ziff-2016-8">industry legend Stan Druckenmiller has made a big hire</a>, and a star quant trader is launching his <a href="http://www.businessinsider.com/schonfeld-strategic-advisors-backs-eric-tavel-masa-capital-2016-8">own firm with the backing of a $4 billion hedge fund</a>.Bill Gross just used kittens, sex, and <a href="http://www.businessinsider.com/bill-gross-investment-outlook-august-2016-2016-8">Victoria's Secret to explain his miserable outlook for the global economy</a>.And this one statistic <a href="http://www.businessinsider.com/exchange-trade-fund-industry-growing-2016-8">will give Wall Street stock pickers nightmares</a>.One of America's biggest gunmakers spent its earnings call bashing Hillary Clinton and <a href="http://www.businessinsider.com/sturm-ruger-on-the-nra-hillary-clinton-and-election-2016-8">said it plans to donate millions to the NRA</a>. CVS just made a move that could help <a href="http://www.businessinsider.com/cvs-health-adds-biosimilars-to-formulary-2016-8">customers save billions on prescription drugs</a>. Elon Musk had the <a href="http://www.businessinsider.com/elon-musk-answers-tesla-solarcity-merger-question-2016-8">perfect response to the biggest criticism of the Tesla-SolarCity merger</a>.And this is <a href="http://www.businessinsider.com/why-uber-failed-in-china-2016-8">why Uber failed in China</a>.The US economy's <a href="http://www.businessinsider.com/adp-private-payrolls-july-2016-2016-8">biggest problem will soon be a lack of available workers</a>, and 64% of millennials are <a href="http://www.businessinsider.com/wells-fargo-survey-says-two-third-of-millennials-dont-think-they-will-retire-2016-8">pretty sure they won't save enough money to retire</a>.And lastly, Morgan Stanley addressed its interns' most pressing career questions, <a href="http://www.businessinsider.com/morgan-stanley-on-how-to-get-hired-2016-8">and every young employee can learn from the answers</a>. Here are the top Wall Street headlines at midday:<a href="http://www.businessinsider.com/tesla-q2-earnings-preview-2016-8">Nobody knows what to expect from Tesla anymore</a> - For the first time in years, no one really has any expectations for Tesla, as the company prepares to report second-quarter earnings on Wednesday after the markets close.<a href="http://www.businessinsider.com/time-warner-is-buying-a-10-percent-stake-in-hulu-2016-8">Time Warner is buying a 10% stake in Hulu</a> - It spent about $580 million for the stake, according to a person familiar with the matter. That values Hulu at nearly $6 billion.<a href="http://www.businessinsider.com/credit-suisse-uses-cheesecake-factory-to-determine-sales-at-nordstrom-2016-8">Credit Suisse is using cheesecake to forecast sales at Nordstrom</a> - When Nordstrom stopped reporting monthly same-store sales, a very important number for investors, an alternative had to be found.<a href="http://www.businessinsider.com/stock-market-losing-streak-means-bad-times-2016-8">Something just happened in the stock market that was a precursor to the 1987 crash</a> - After breaking <a href="http://www.businessinsider.com/closing-bell-june-12-2016-7">all-time highs</a>, the stock market has been on a bit of <a href="http://www.businessinsider.com/closing-bell-august-2-2016-8">a losing streak lately</a>.<a href="http://www.businessinsider.com/craig-donohue-on-markets-hft-blockchain-and-new-role-at-occ-2016-8">The former CEO of CME talks markets, high-frequency trading, blockchain, and his new role</a> - Donohue was the CEO of the Chicago Mercantile Exchange during its historic merger with the Chicago Board of Trade. He also oversaw the CME's purchases of the New York Mercantile Exchange and the COMEX.<a href="http://www.businessinsider.com/trump-brushes-off-warren-buffett-critique-of-business-judgment-2016-8">Trump brushed off Warren Buffett's 'blistering critique' of his business judgment</a> - US Republican presidential candidate Donald Trump on Tuesday brushed off billionaire investor Warren Buffett's blistering critique of his business acumen.<a href="http://www.businessinsider.com/this-is-the-last-stand-against-the-march-of-computerized-trading-2016-8">The last stand against the march of computerized trading</a> - Electronic trading dominates market volume these days.<a href="http://www.businessinsider.com/goldman-sachs-qubit-google-lay-offs-redundancies-2016-8">Goldman Sachs-backed London data startup Qubit lays off 34 staff</a> - A London data analytics startup founded by four ex-Google employees and backed by Goldman Sachs has laid off 34 employees, around 12% of its entire staff, after missing internal growth targets.

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Hackers steal crypto worth $180 million from Beanstalk Farms, a decentralized finance project

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Microsoft's quantum boss explains how she rose through the ranks at Microsoft and how to get a job in the hottest emerging tech field

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