On September 19 at 11:49 PM UTC, the system alerted members of the public and requested that users refrain from utilizing the Balancer protocol until a further announcement.

Source: ambcrypto.com

After being attacked on its frontend, the Ethereum-based decentralized finance system Balancer is advising users not to visit its website. Balancer claims that the attack's specifics are being looked into. Although the company hasn't made a public declaration regarding whether customer assets were impacted, Balancer developer Cosme Fulanito is said to have certified that the repository is still 100% okay.

Yet, estimates show us that from blockchain safety firms like PeckShield and blockchain researcher ZachXBT, a minimum of $238,000 in cryptocurrencies were lost thus far. Some customers claim that upon using the website, they are asked to agree to a harmful contract that depletes their bank accounts. What other users have apparently observed was described by a specialist in the field as follows: If you visit the internet address, it offers you to alter the chain, where you have the greatest sum of funds. Once that bogus transaction was sent and confirmed, the money was gone. Immediately close the website. Balancer experienced its second attack within a month, following a warning about a critical vulnerability on August 22. Shortly after this warning, an exploit linked to this vulnerability led to an estimated loss of $2 million.

Steadefi Exposed In Continuous Operation: ‘All Accounts Are At Danger’

On August 7, a continuing attack resulted in at least $334,000 being stolen from the decentralized finance (DeFi) software Steadefi. The hack sets every penny at danger, according to a social media post by the app's developer team. As a consequence of the assault, the app's overall worth has decreased, based on information gathered by DefiLlama.

The Steadefi crew announced on X, formerly known as Twitter, that "NOTICE: Steadefi was recently abused and all assets are now at risk." The team additionally verified that an on-chain communication was sent to Ethereum's address 0x9cf71F2ff126B9743319B60d2D873F0E508810dc in an effort to contact the hacker and renegotiate. Blockchain data shows that starting at 4:41 pm UTC, several substantial funds entered this particular address on the Avalanche chain.

Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.