Balancer hit by suspected $70M exploit with staked Ether tokens sent to new wallet

5 hours ago

Balancer whitethorn person suffered a $70 cardinal DeFi exploit, arsenic millions successful staked Ether were transferred to a caller wallet, reigniting concerns implicit protocol security.

Balancer deed by suspected $70M exploit with staked Ether tokens sent to caller wallet

Decentralized speech (DEX) and automated marketplace shaper (AMM) Balancer whitethorn person suffered a caller exploit aft astir $70 cardinal worthy of integer assets were transferred to a freshly created wallet.

Onchain information shows that the decentralized concern (DeFi) protocol saw astir $70.9 cardinal worthy of liquid staked Ether (ETH) tokens transferred to a caller wallet crossed 3 transactions, according to Etherscan logs.

The transfers included 6,850 StakeWise Staked ETH (OSETH), 6,590 Wrapped Ether (WETH) and 4,260 Lido wstETH (wSTETH), crypto quality level Nansen said successful a Monday X post.

While Balancer has yet to corroborate the breach, the millions flowing into the caller cryptocurrency wallet awesome that the transfers occurred owed to a information breach.

Blockchain information steadfast Cyvers estimated that up to $84 cardinal successful suspicious transactions crossed aggregate chains related to Balancer was involved, it wrote successful a Monday X post.

Two months ago, Balancer suffered a domain sanction strategy (DNS) onslaught connected its beforehand extremity website, the protocol announced connected Sept. 20. Hackers redirected the website’s users to a phishing website associated with malicious astute contracts aiming to bargain idiosyncratic funds.

About $238,000 worthy of integer assets were stolen during the phishing attack, according to blockchain sleuth ZachXBT.

Earlier successful August, Balancer besides suffered a astir $1 cardinal stalecoin exploit, a week aft the protocol disclosed a “critical vulnerability” related to immoderate liquidity pools.