NFTs

Hackers Compromise Balancer Website In Ongoing Exploit

1 Mins read

The interface for Balancer, the decentralized exchange, is currently compromised, according to the project’s account on X.

The project’s Discord is calling it a Domain Name Service (DNS) attack, which involves redirecting the IP address – a number which identifies a computer connected to the internet – a URL resolves to.

the-defiant

ZachXBT, an on-chain researcher, said that user funds are being redirected to an unknown Ethereum account, presumably the attacker’s. Roughly $238,000 is in the account so far.

Balancer’s smart contracts are not compromised, according to a moderator on the project’s Discord. This means that only users interacting with the website are at risk.

Message in Balancer's Discord
Message in Balancer’s Discord

The decentralized exchange has been a favored target for hackers — just last month, it shed hundreds of millions in total value locked as the team urged users to pull their assets off the platform.

Balancer TVL chart
Balancer TVL

Balancer has made efforts in the past to shore up its defenses — for example, the project deployed a $2M bug bounty in 2021.



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