Balancer hack damage estimated at $900,000

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hack_b-min (1)

A hacker who took advantage of a vulnerability in the DeFi programmable liquidity platform Balancer withdrew about $900,000 from the protocol.

Data: X.

According to on-chain data, after the attack, the attacker’s address received two transactions for $636,812 and $257,527 in DAI stablecoins.

The project team reported an error in the second version of the protocol on August 22 and urged users to withdraw funds from liquidity pools. At risk were assets deployed on Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom and zkEVM.

At the time of writing, the total amount of funds locked in Balancer v2 is $586 million, according to DeFi Llama.

Developers once again warnedwhat they know about the exploit. The “mitigation procedures” reduce risks, they say, but users must exit the pools themselves for greater security.

Recall that in August, an unknown person attacked the Cypher decentralized exchange based on Solana and withdrew about $1 million in cryptocurrencies.

The yield aggregator Zunami Protocol was later hacked, resulting in the loss of $2.1 million in digital assets.

In the same month, a $12 million DeFi project, Exactly Protocol, was hacked by a hacker by exploiting a vulnerability in a smart contract.

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