Balancer

<ul><li>DeFi&#39;s ongoing risks are underscored by Balancer&#39;s vulnerability exposure, highlighting the need for increased security measures and vigilance.</li><li>Users should remain cautious of DNS manipulation, which can lead to deceptive actions that compromise their financial security within DeFi platforms.</li><li>DeFi trust rebuilds through transparent, timely updates addressing vulnerabilities and incidents.</li></ul>Balancer, a prominent Ethereum-based decentralized finance (DeFi) protocol, has issued a grave warning through a tweet to its user community following a cyberattack on its website&#39;s frontend. On September 19 at 11:49 pm UTC, Balancer urged users to avoid its website until further notice while an investigation into the breach is underway. While the impact on user funds has not been officially confirmed, security firms and <a href="https://x.com/PeckShieldAlert/status/1704306602529247294?s&#61;20" rel="noopener noreferrer nofollow">analysts</a> estimate that the attackers have made off with at least $238,000 in cryptocurrency.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/32982702d6f742698a1934c9d2fb9f61.png" />This marks the second major attack on Balancer within just a month. On <a href="https://x.com/Balancer/status/1694222776641708156?s&#61;20" rel="noopener noreferrer nofollow">August</a> 22, the platform disclosed a critical vulnerability, and shortly thereafter, an estimated $2 million was exploited due to this weakness.The recent attack appears to be linked to a Domain Name Service (DNS) manipulation, which involves redirecting the IP address associated with Balancer&#39;s website. This manipulation effectively hijacks user interactions on the platform. Alarming reports have surfaced from users who were prompted to approve a <a href="https://x.com/ExponentialDeFi/status/1704278641813729787?s&#61;20" rel="noopener noreferrer nofollow">malicious</a> contract on the compromised website, leading to the draining of their wallets.Read full article at<a href="https://cryptotale.org/dns-manipulation-and-defi-balancers-238000-crypto-heist-warning/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

DNS Manipulation and DeFi: Balancer's $238,000 Crypto Heist Warning

CryptoTale

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