Balancer exploited in nearly $900k after vulnerability warning

Balancer, a DeFi protocol, was exploited for nearly $900,000 just days after disclosing a vulnerability affecting its boosted pools, prompting users to withdraw from affected LPs to prevent further exploits.

cointelegraph.com

Relevant topic timeline:

8/31/2023

Why DeFi’s Woes May Be Existential

Hackers have targeted decentralized finance (DeFi) protocols almost 500 times since 2019, stealing a total of $6 billion, highlighting the vulnerabilities of the smart contracts that underpin DeFi platforms. The recent surge in hacks, along with declining market share and increasing interest rates, has led to the closure of several platforms and calls for regulations to prevent money laundering and enhance security measures.

9/20/2023

Balancer Suffers Apparent Exploit; Over $200,000 in Assets Reportedly Stolen

Decentralized trading protocol Balancer has been hit by an exploit, with users being redirected to a malicious site, potentially resulting in the theft of over $200,000 in digital assets, primarily stETH and DAI.