Balancer DeFi Hit Again: $238K Loss in Recent Attack

Balancer DeFi Hit Again: $238K Loss in Recent Attack

Balancer DeFi Protocol Faces New Attack, Suffers $238K Loss in the Latest Exploitative Incident The decentralized finance (DeFi) protocol known as Balancer has fallen victim to a recent attack, marking another instance of security exploits within the industry. Balancer issued a warning to its users on September 20th, notifying them of a security breach on its front-end platform.

The protocol stated that the matter was currently under investigation, and no further updates were provided via the official Balance X Twitter feed at the time of this writing. Users were strongly cautioned against interacting with the Balancer user interface until further notice due to the ongoing situation. However, blockchain security firm PeckShield reported that approximately $238,000 worth of cryptocurrency assets had been stolen in the attack.

Crypto enthusiast ZachXBT verified this amount by sharing an image along with the attacker’s wallet address. According to Peck Shields latest update, the attacker behind the Balancer front-end breach had exchanged 15.4 ETH for approximately 2,730 AVAX tokens and subsequently transferred them to the Mexc exchange.

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About Maria Morgan

Maria Morgan is a full-time cryptocurrency journalist at Coinography. She is graduate in Political Science and Journalism from London, her writing is centered around cryptocurrency news, regulation and policy-making across the glob.

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