Euler

Balancer

The decentralized finance protocol Balancer suffered an exploit attack for nearly $900,000 in just a few days after discovering a critical vulnerability. 
The Balancer team said a DNS attack was the source of an issue on its interface discovered on Sept. 20. Per reports, hackers stole $238,000 and users were advised to avoid interacting with the project’s website. 
The matter was previously under investigation, as <a href="https://crypto.news/balancer-suffers-900k-exploit-amid-recently-discovered-vulnerability/">crypto.news reported</a> following an alert from Balancer. 
According to a later update, the protocol’s domains have now been secured by the Balance DAO, a decentralized autonomous organization that manages the Ethereum-based automated market maker. 
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 Regarding the recent DNS attack, we can confirm that the domain is now secure and back under the control of the Balancer DAO.<a href="https://t.co/kNWcQADaqa" target="_blank">https://t.co/kNWcQADaqa</a> and other <a href="https://t.co/RQO6oJXEpJ" target="_blank">https://t.co/RQO6oJXEpJ</a> subdomains are SAFE to use. [1/2]— Balancer (@Balancer) <a href="https://twitter.com/Balancer/status/1704552285395894422?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 20, 2023</a>
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The team traced the attack to a compromised domain registrar and warned other projects to take necessary measures. 
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 After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs. We are exploring deprecating the .fi TLD in order to move to a more secure registrar and suggest that other projects using the TLD do the same. <cite>Balancer on X</cite>
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Attackers <a href="https://crypto.news/defi-protocol-balancer-suffers-frontend-hack/">infiltrated</a> Balancer’s website with a malicious prompt that sought access to users’ non-custodial wallets. Some users fell prey and hackers stole $238,000 worth of crypto, according to on-chain investigator ZachXBT.&nbsp; 
The DNS attack brought Balancer’s total losses to $1.1 million in 30 days. Indeed, the decentralized platform previously lost $900,000 due to a critical bug <a href="https://crypto.news/balancer-suffers-900k-exploit-amid-recently-discovered-vulnerability/">exploited</a> by hackers. 
Balancer counts among several crypto service providers mobbed by exploits and cyber attacks. Centralized crypto exchanges <a href="https://crypto.news/coinex-to-resume-crypto-services-after-70m-lazarus-hack/">CoinEx</a> and <a href="https://crypto.news/remitano-allegedly-hacked-over-2-7-million/">Remitano</a> both suffered hacks, losing millions of dollars in crypto. 
Hackers also exploited decentralized finance (defi) protocols <a href="https://crypto.news/arcadia-finance-loses-455m-in-defi-protocol-hack/">Arcadia Finance</a> and <a href="https://crypto.news/hacked-defi-platform-euler-finance-releases-funds-redemption-details/">Euler Finance</a>. 
 You might also like: <a href="https://crypto.news/defi-lending-protocol-hundred-finance-hacked-for-7-4m-in/"> DeFi lending protocol, Hundred Finance, hacked for $7.4m </a> 
Digital asset participants and U.S. authorities believe that state-funded North Korean hacker group Lazarus was responsible for a flurry of exploits on platforms like crypto casino Stake, payments processor CoinsPaid, and wallet provider Atomic Wallet among others. 
These incidents perhaps underscore security concerns from both crypto skeptics and proponents alike as the nascent industry seeks to establish itself as a legitimate industry capable of safeguarding users’ assets. 
 Read more: <a href="https://crypto.news/hackers-stole-over-6b-from-defi-protocols-in-2022/"> Hackers stole over $6b from DeFi protocols in 2022 </a>

Balancer confirms social engineering attack caused front end issues

crypto.news

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