Ethereum

Defi

ZachXBT

Balancer

<p class="is-style-lead">The team behind the protocol has confirmed the attack and urged users to avoid interaction with the project’s interface.</p> 
<p>Balancer (<a href="https://crypto.news/price/balancer/" target="_blank" rel="noreferrer noopener">BAL</a>), an automated market maker on the Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/">ETH</a>) blockchain, has become the latest decentralized finance protocol to suffer from a frontend attack.</p> 
<p>According to an X post by Balancer, the issue is “under investigation.”</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" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The balancer frontend is under an attack. The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice!</p>— Balancer (@Balancer) <a href="https://twitter.com/Balancer/status/1704281611326357567?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 19, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Although no other details on the matter were given, the team behind Balancer urged users to avoid interacting with the protocol’s website “until further notice.”</p> 
<p>According to a blockchain investigator ZachXBT, the hacker stole around $238,000 in crypto. As of press time, the stolen funds have been directed to the address <a href="http://etherscan.io/address/0x645710Af050E26bB96e295bdfB75B4a878088d7E" target="_blank" rel="noreferrer noopener">0x64…8d7E</a>.</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" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Stolen funds are being directed to this address<br><br>0x645710Af050E26bB96e295bdfB75B4a878088d7E<br><br>~$238k stolen so far <a href="https://t.co/rwMybBaLoA" target="_blank">pic.twitter.com/rwMybBaLoA</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1704286832844828914?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 20, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>According to reports, users are prompted to approve a malicious contract from their non-custodial wallets when visiting Balancer’s website. Shortly after the news broke, BAL plunged 4% to $3.28, according to data from TradingView.</p> 
<p>This is the second attack on Balancer in less than a month. As crypto.news <a href="https://crypto.news/balancer-suffers-900k-exploit-amid-recently-discovered-vulnerability/" target="_blank" rel="noreferrer noopener">reported</a>, the protocol suffered an exploit attack for nearly $900,000 after discovering a critical vulnerability.</p> 
<p>However, later on, the company added that 0.42% of the total value locked in the protocol was at risk, representing a value of $2.8 million.</p> 
<p> Read more: <a href="https://crypto.news/balancer-suffers-900k-exploit-amid-recently-discovered-vulnerability/"> Balancer secures 95% of funds at risk amid vulnerability report </a> </p>

Defi protocol Balancer suffers frontend hack

crypto.news

Other articles published on Sep 20, 2023

Claim Your Free SelfKey iD and Start Unlocking SELF!

India Is The World’s Second-Largest Cryptocurrency Market: Report

Solana Is On The Move And Is Aiming For The $22 Mark

ZTX Teams Up with Lenge Top Metaverse Designer for Exclusive Digital Fashion

Grayscale files for an Ethereum futures ETF

cheqd Aims to Create an Onchain Market for Trusted Data

Join our free newsletter for daily crypto updates!