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        Balancer, an Ethereum-based yield aggregation protocol, has issued a warning to users to avoid interacting with its user interface on its website until further notice after it faced an attack on its frontend.
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        PeckShield, a blockchain security company, reported that over USD 200,000 worth of cryptocurrencies have been stolen from the protocol. Users of the protocol reported that they were asked to approve fraudulent contracts that resulted in their wallets being emptied.&nbsp;
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        <b>Analyst Quicktake:</b>
         This incident marks the second time Balancer has faced an attack within the past month, with the previous hack resulting in the loss of almost USD 900,000 due to a vulnerability that affected several of its liquidity pools. Hacks have also remained a pervasive issue within the wider DeFi industry this year, with protocols such as 
        <a href="https://sp-edge.com/companies/1508332">
          Exactly
        </a>
         losing 
        <a href="https://sp-edge.com/updates/21200">
          USD 7.3 million
        </a>
         and 
        <a href="https://sp-edge.com/companies/3146160">
          Zunami
        </a>
         losing 
        <a href="https://sp-edge.com/updates/21004">
          USD 2.1 million
        </a>
         in the last month alone.&nbsp;
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    <a href="https://finance.yahoo.com/news/defi-protocol-balancer-frontend-under-063501745.html">
      Yahoo Finance
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Decentralized Finance (DeFi)

Balancer, an Ethereum yield aggregation protocol, has warned users not to interact with its website due to an attack on its frontend. PeckShield, a blockchain security firm, reported that over $200,000 in cryptocurrencies were stolen. Users were tricked into approving fraudulent contracts that emptied their wallets. This is the second attack on Balancer in a month, with a previous hack resulting in a $900,000 loss. DeFi protocols have also been targeted, with Exactly losing $7.3 million and Zunami losing $2.1 million in the past month.

Balancer loses over USD 200,000 in hack

Balancer, an Ethereum-based yield aggregation protocol, has suffered a loss of almost USD 900,000 due to an exploit. The protocol had previously disclosed a vulnerability that affected several of its liquidity pools. In response, Balancer requested users to withdraw funds and paused at-risk pools to minimize potential damage. At the time of the discovery, around 1.4% of Balancer's total assets, worth over USD 5 million, were at risk. Beosin, a blockchain security firm, confirmed that the exploit involved "multiple flash loan attacks."

All Updates

Balancer loses over USD 200,000 in hack

Balancer loses USD 900,000 in exploit