Balancer Reportedly Loses Over $240K Following Frontend Attack

Ethereum-based decentralized automated marker maker (AMM) Balancer has warned users not to interact with the platform’s user interface following an attack on the protocol’s frontend.

Balancer recently suffered a hack resulting in the loss of almost $1 million.

• Tweeting about the incident, Balancer said that the team is investigating the attack and warned users to stay away from the protocol until further notice.

The balancer frontend is under an attack. The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice!

— Balancer (@Balancer) September 19, 2023

• While the firm is yet to give more details about the attack and state if funds were affected, on-chain sleuth ZachXBT said that the attacker had already stolen more than $238,000 shortly after Balacer’s warning.

Stolen funds are being directed to this address

0x645710Af050E26bB96e295bdfB75B4a878088d7E

~$238k stolen so far pic.twitter.com/rwMybBaLoA

— ZachXBT (@zachxbt) September 20, 2023

• The incident follows a recent exploit that drained over $970 from the platform.
• A few days before the attack, Balancer said that it received a “critical vulnerability report” affecting some of the protocol’s V2 pools.