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Balancer

<div class="cryptonews"><p class="is-style-lead">The decentralized finance protocol, Balancer, suffered an <a href="https://thebittimes.com/tag/exploit.html" rel="noopener noreferrer nofollow">exploit</a> attack for nearly $900,000 in just a few days after a critical <a href="https://thebittimes.com/tag/vulnerability.html" rel="noopener noreferrer nofollow">vulnerability</a> was <a href="https://thebittimes.com/tag/discovered.html" rel="noopener noreferrer nofollow">discovered</a>.</p><p>On Aug. 27, the company explained to its users that it suffered an attack and that it would be working to mitigate the effects of it.</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>Balancer is aware of an <a href="https://thebittimes.com/tag/exploit.html" rel="noopener noreferrer nofollow">exploit</a> related to the <a href="https://thebittimes.com/tag/vulnerability.html" rel="noopener noreferrer nofollow">vulnerability</a> below.<br><br>Mitigation procedures have drastically reduced risks, but are unable to pause affected pools.<br><br>To prevent further <a href="https://thebittimes.com/tag/exploit.html" rel="noopener noreferrer nofollow">exploit</a>s, users must withdraw from affected LPs.https://t.co/PDzX32gqeS https://t.co/b4CSqVFbDg</p>— Balancer (@Balancer) August 27, 2023 </blockquote></div></figure><p>Blockchain security expert Meier Dolev revealed an Ethereum (ETH) address that belonged to the hacker. After the cyberattack, the address received two DAI transfers worth nearly $893,978.</p><p>On Aug. 22, Balancer revealed a critical <a href="https://thebittimes.com/tag/vulnerability.html" rel="noopener noreferrer nofollow">vulnerability</a> that affected its pools, stating that 95% of its TVL was secured and that nearly $5.6 million were at risk.</p><p>Later on, on Aug. 24, the company explained that 0.42% of its TVL was at risk, representing a value of $2.8 million.</p><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> You might also like: </span> Balancer secures 95% of funds at risk amid vulnerability report </div><h2 class="wp-block-heading" id="hackers-are-targeting-crypto-industry">Hackers are targeting crypto industry</h2><p>With the evolution of different technologies, hacking attacks are becoming more complex, and hackers are finding new ways to attack the crypto industry.</p><p>Recently, in an interview with Jim Cramer on CNBC’s “Mad Money”, Nikesh Arora the CEO of Palo Alto Networks, explained that hackers are evolving fast and that companies need to modernize their cybersecurity systems to avoid being victims of hacking attacks.</p><p>Moreover, a new type of crypto scam has surfaced <a href="https://thebittimes.com/tag/recently.html" rel="noopener noreferrer nofollow">recently</a>. Scammers buy ads for genuine crypto websites on Google and then use URL injection to automatically redirect users to a malicious site once they click on the ad.&nbsp;</p><div class="cn-block-related-link"><span class="cn-block-related-link__prefix"> Read more: </span> Cybercriminals launch new crypto scam using Google Ads </div><span class="google-news-banner__label">Follow Us on Google News</span></div><p>Source: <a href="https://thebittimes.com/balancer-suffers-900k-exploit-amid-recently-discovered-vulnerability-tbt60628.html" rel="noopener noreferrer nofollow">https://thebittimes.com/balancer-suffers-900k-exploit-amid-recently-discovered-vulnerability-tbt60628.html</a></p>

Balancer suffers $900k exploit amid recently discovered vulnerability

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