Balancer hack estimated at $900,000

The hacker who exploited the vulnerability of Balancer’s programmable DeFi liquidity platform withdrew about $900,000 from the protocol.

According to on-chain data, after the attack on the hacker’s address, two transactions worth $636,812 and $257,527 in DAI stablecoins were recorded.

The project team said that there was a bug in the second version of the protocol on August 22 and urged users to withdraw funds from liquidity pools. Assets deployed on Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom and zkEVM were at risk.

As of writing, the total value locked in Balancer v2 stood at $586 million, according to DeFi Llama.

The developers again warned that they are aware of the exploit. According to them, \”mitigation procedures\” reduce risk, but users should withdraw from pools themselves for greater safety.

Earlier in August, an unknown attacked the Cypher decentralized exchange on Solana and withdrew about $1 million in cryptocurrencies.

Subsequently, the yield aggregator Zunami Protocol was hacked, resulting in losses of $2.1 million.

In the same month, the hacker hacked the DeFi project Exactly Protocol for $12 million, exploiting a vulnerability in the smart contract.