Balancer DeFi Protocol Suffers Nearly $900,000 Exploit Days After Revealing Critical Vulnerability

Balancer DeFi Protocol Suffers Nearly $900,000 Exploit Days After Revealing Critical Vulnerability



Just a few days after revealing a security flaw impacting its enhanced pools, the decentralized finance platform Balancer fell victim to an attack. The protocol acknowledged on Aug. 27 through a platform formerly known as Twitter that it had suffered an exploit costing nearly $900,000.



Blockchain security specialist Meier Dolev identified an Ethereum address suspected to belong to the perpetrator. Subsequent to the attack, this address received two separate Dai (DAI) stablecoin transfers, totaling approximately $894,000.



In a public statement on the social media platform, Balancer's team acknowledged the exploit connected to the previously announced vulnerability. They stated that although recent preventative steps had lessened the danger, the compromised pools couldn't be halted. They advised users to withdraw from the affected


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