DeFi protocol Balancer frontend is under attack, urges users to stay away

The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users to not interact with Balancer’s protocol until further notice.

Balancer, an Ethereum-based decentralized finance protocol has confirmed its user interface is currently “under an attack.”

The platform notified its community on Sept. 19 at 11:49 pm UTC, urging users to not interact with Balancer’s protocol until further notice.

The balancer frontend is under an attack. The issue is currently under investigation. Please do NOT interact with the balancer UI until further notice!

— Balancer (@Balancer) September 19, 2023

Balancer said the details of the attack are under investigation. The firm hasn’t confirmed whether user funds are safe at this point in time.

However, one blockchain analyst, ZachXBT claims $238,000 was stolen within the first 30 minutes of Balancer breaking the news.

Stolen funds are being directed to this address

0x645710Af050E26bB96e295bdfB75B4a878088d7E

~$238k stolen so far pic.twitter.com/rwMybBaLoA

— ZachXBT (@zachxbt) September 20, 2023

This is the second theft from Balancer in a month, after it warned of a critical vulnerability on Aug. 22, which resulted in a $2 million exploit several days later.

This is a developing story, and further information will be added as it becomes available.