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Balancer is under attack again; $240K siphoned out

The attack comes one month after a major exploit that saw up to $2.1M lost. Users are warned to avoid interacting with the Balancer UI for now.

Balancer, a popular DeFi exchange, is under attack again – this time on its frontend.

On September 20, the platform urged its users to not engage with the interface, declaring, “The balancer frontend is under an attack. The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice!” 

The Balancer DAO is currently addressing the DNS attack and is working alongside various parties to ensure the full recovery of the UI.

Blockchain security firm PeckShield revealed that $238k in crypto has been stolen from the platform.

The attack is the latest in a string of security breaches. On August 22, the platform confirmed that its pools were drained of $900,000 by an unknown hacker, but PeckShield cast doubt on the validity of this figure. 

According to PeckShield’s analysis, the actual figure from the attack should be more than $2.1M.

Read more: Balancer hacked—$900K stolen after reporting critical vulnerability

The August exploit could have been significantly worse.

On August 23, Balancer announced that over 97% of liquidity initially deemed vulnerable was safe, although 0.89% of total TVL ($5.6 million) remained at risk. The platform advised users to withdraw as soon as possible through the interface. 

Balancer’s native token, BAL, has been on a downward trajectory throughout the summer, with the biggest dip seen in August. 

BAL token from July-August. CoinGecko.

BAL however hasn’t responded particularly strongly to the most recent exploit. 

The token is currently down 2.5% in the past 24 hours, and is trading at $3.26 (CoinGecko).

Disclaimer: CryptoPlug does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

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