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

Balancer said its web front end was exploited and urged users not to interact with the website.
Tweets suggest the Balancer URL suffered a redirect attack sending users to a malicious page.
A wallet identified by ZachXBT shows over $200,000 in assets may have been stolen.
On-chain data suggests the hacker moved some stolen funds to Aave.
This comes a month after a previous Balancer vulnerability warning about protocol pools.

coindesk.com

Relevant topic timeline:

8/1/2023

Curve Finance’s $62M exploit exposes larger issues for DeFi ecosystem

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8/23/2023

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8/27/2023

Balancer exploited in nearly $900k after vulnerability warning

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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.

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Posted 9/20/2023, 8:31:00 AM