Breaking: Balancer frontend under attack

Balancer, an Ethereum-based decentralized finance (DeFi) protocol, has indicated that its frontend is under attack.

While not much is known for now, on-chain detective ZachXBT says that a bad actor is stealing funds from the protocol and sending them to this address associated with 'Angel Drainer'.

Approximately $238,125 has been stolen as of the time of this publishing, with reports that it is either a BGP or DNS attack.

The bad actors have hijacked the Balancer domain (Balancer.fi), prompting users to approve a malicious contract that will drain their wallets.

One user says:

If you open the website it asks you to change the chain, where you hold the most amount of money. After that scam transaction is sent, after confirmation money is gone!

Balancer domain attacked

While Balancer has not confirmed, reports say that protocol funds are safe and the issue is limited to the hijacked front-end.

The attack comes a month (August 20) after Balancer V2 pools suffered critical vulnerability, causing the network to ask users to withdraw affected LPs immediately as the network deployed emergency mitigation measures.

Users have been asked not to interact with its UI until further notice!

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.