Home Crypto DeFi protocol Balancer frontend is under attack, $238K crypto stolen

DeFi protocol Balancer frontend is under attack, $238K crypto stolen

by Janine Lindsey

Balancer, an Ethereum-based decentralized finance (DeFi) protocol, is currently facing an attack on its user interface. The platform issued a notice to its community on September 19, urging users to refrain from interacting with Balancer’s protocol until further notice.

In a tweet, Balancer stated that its frontend is under attack and that the issue is currently being investigated. It advised users not to interact with the Balancer UI until the situation is resolved. The details of the attack are still under investigation, and it is unclear at this time whether user funds are safe.

However, security firms in the blockchain industry, including PeckShield and blockchain analyst ZachXBT, have estimated that approximately $238,000 in cryptocurrency has been stolen. This highlights the severity of the attack and the potential impact on users’ funds.

This incident marks the second theft from Balancer in just a month. The platform previously warned of a critical vulnerability on August 22, which ultimately led to a $2 million exploit a few days later. With two successful attacks within a short period, it raises concerns about the security and robustness of Balancer’s infrastructure.

Currently, users attempting to access the Balancer website encounter a warning sign, indicating the ongoing security issue and potential risks involved in using the platform.

It is essential for users to exercise caution and refrain from interacting with Balancer’s protocol until the situation is resolved and the platform confirms the safety of user funds. In light of recent attacks on DeFi platforms, it is crucial for users to stay updated on the security measures and vulnerabilities of the platforms they use.

This is an ongoing story, and more information will be provided as it becomes available. Users should remain vigilant and follow updates from Balancer to protect their assets and mitigate any potential risks.

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