Balancer lost $238,000 in a front-end attack
Date: 2023-09-20 Author: Karina Ziganova Categories: IN WORLD
According to information provided by analyst ZachXBT based on on-chain data, the damage amounted to about $238,000.
It is not yet known whether user funds were affected by the Balancer hack. The developers are currently investigating the incident and it is not officially known yet. Cosme Fulanito, who is the official representative of the project in the Discord channel, confirmed that all warehouses are “100% operational.”
Balancer is a community-driven protocol on the Ethereum network launched in 2020. It has a range of features from an automated portfolio manager to a liquidity provider and a price tracker.
The platform has seven EVM-compatible networks. According to DeFi Llama, the total value of funds locked in version 2 of Balancer is $608 million.
The protocol also has a BAL governance token. According to CoinGecko, at the time of writing, the asset is trading at $3.27, down 2.5% over the past 24 hours.
Following the frontend hack, some users reported that when interacting with the website, they were prompted to approve a malicious contract that steals funds from wallets.
“If you open the website, it will ask you to change the chain in which you have the largest amount of assets. Once the fraud is confirmed, the money will disappear. One of the community members warned: “Don’t open the site.”
