News - $238,000 stolen in hack on DeFi protocol Balancer

By Mike Hesp

$238,000 stolen in hack on DeFi protocol Balancer

Ethereum (ETH)

The DEX Balancer has again been the target of a hack. The platform is asking users not to interact with the protocol for now.

The front of the DeFi Protocol Balancer is under fire. Blockchain analysts assume that cryptos worth more than US$200,000 have already been lost.

The platform has its community last night at 01:49 on X informed. It asks users not to interact with the Balancer protocol until further notice.

The company has not yet commented on whether users' funds have been directly affected.

According to report stated a moderator on the project's Discord that Balancer's smart contracts are not at risk. This means that only users who interact with the website are at risk.

Blockchain security companies such as PeckShield and blockchain analyst ZachXBT estimate that at least $238,000 worth of cryptocurrencies have already been siphoned off the protocol.

Balancer is a decentralized financial protocol (DeFi) running on Ethereum. The protocol acts as a decentralized market maker and DEX. The platform struggled back in August with security issues.

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