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.

• 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.

• 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.