Balancer Hit by Another DeFi Hack, Loses Almost $900k
8 months ago 2 mins readThe Ethereum-based decentralized finance (DeFi) protocol, Balancer, has fallen prey to an exploit resulting in losses of almost $900,000. This incident occurred shortly after the protocol’s public disclosure of a vulnerability affecting its boosted pools. The exploit and subsequent loss were confirmed by the protocol itself on social media platform X (formerly Twitter) on August 27th. Leading blockchain security expert Meier Dolev traced an Ethereum address believed to be linked to the attacker. This address received significant transfers of Dai stablecoin, amounting to $636,812 and $257,527, respectively, accumulating over $893,978 in the attacker’s possession. The protocol’s team promptly addressed the