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Decentralized exchange (DEX) and automated market maker Balancer (AMM) may have suffered a new exploit after about $70 million of digital assets were transferred to a newly created wallet.
Onchain data shows that the decentralized finance (DeFi) protocol has seen approximately $70.9 million of liquid Ether stacked (ETH) tokens transferred to a new wallet in three transactions, according to to Etherscan logs.
The transfers include 6,850 StakeWise Staked ETH (OSETH), 6,590 Wrapped Ether (WETH) and 4,260 Lido wstETH (wSTETH), crypto intelligence platform Nansen said in a Monday X. place.
While Balancer has yet to confirm the breach, the millions flowing into the cool cryptocurrency wallet report that transfers have occurred due to a security breach.
Blockchain security company Cyvers estimated that up to $84 million in suspicious transactions in several chains linked to Balancer was involved, it wrote in a Monday X. place.
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Two months ago, Balancer suffered a domain name system (DNS) attack on its front-end website, the protocol announced September 20th. Hackers redirect website users to a phishing website associated with malicious smart contracts that aim to steal user funds.
About $238,000 worth of digital assets were stolen during the phishing attack, according to to blockchain sleuth ZachXBT.
At the beginning of August, Balancer too suffered a stalecoin exploit of nearly $1 million, a week after the protocol disclosed a “critical vulnerability” linked to some liquidity pools.
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