BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

DeFi Protocol Balancer Under Attack: $238K Crypto Theft in Progress

DeFi Protocol Balancer Under Attack: $238K Crypto Theft in Progress

Key takeaways:




After being attacked on its front end, the Ethereum-based DeFi protocol Balancer advises users not to visit its website.



Blockchain security companies like PeckShield and blockchain researcher ZachXBT have lost at least $238,000 in cryptocurrencies.




After being attacked on its front end, the Ethereum-based DeFi protocol Balancer advises users not to visit its website. 



On September 19, the platform informed its community and urged users to refrain from using the Balancer user interface until further notice.



According to Balancer, the attack’s specifics are being looked into. Although the company hasn’t officially stated whether customer assets were impacted, Balancer contributor Cosme Fulanito is said to have certified that the vault is still “100% fine.”



When users try to access the Balancer website, a caution message appears. Some customers claim that they are asked to approve a harmful contract that depletes their bank accounts upon using the website.



DeFi Protocol Balancer Website Error Message



The investigation into the attack’s specifics is ongoing, and whether user money has been compromised is unknown. However, according to estimates from blockchain security companies like PeckShield and blockchain researcher ZachXBT, at least $238,000 in cryptocurrencies have been lost.




#PeckShieldAlert @Balancer has reported that its frontend under an attack, ~$238k worth of cryptos were stolen https://t.co/aAaj0Xqery pic.twitter.com/YDIjfnNYM4 — PeckShieldAlert (@PeckShieldAlert) September 20, 2023




PeckShieldAlert reports that MEXC, a cryptocurrency exchange, sent 1.04 $AVAX to the attacker’s associated address, 0xf998. A recent update noted that the hacker converted 15.4 $ETH into roughly 2,730 $AVAX before sending the money to MEXC’s deposit address.



What other users have purportedly gone through was described by an industry expert as follows :




“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 are gone. Don’t open the website!!!”




This is Balancer’s second attack in less than a month after it issued a severe vulnerability warning on August 22 and was the target of a $2 million vulnerability-related hack two days later.



On August 27, the protocol’s team announced on X that “Balancer is aware of an exploit related to the vulnerability below,” adding that while risk-mitigation steps recently implemented had significantly decreased risks, vulnerable pools could not be halted. Additionally, the platform advised users to withdraw their funds after identifying a severe security flaw.


Ex-Celsius Executive Pleads Guilty to Criminal Charges in Ongoing Legal Saga Digital Surge Review: Is it Safe or Legit? What to mine with 4GB Mining Rigs? Ledger vs Ngrave ZERO | Read Before Buy

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News