DeFi Protocol Balancer Urges Caution After Website Attack

Last month, the protocol urged users to withdraw their funds after discovering a critical security vulnerability.

Ethereum-based decentralized finance (DeFi) protocol Balancer (BAL) has warned users not to interact with its website due to an attack.

In a tweet on Tuesday evening, the company said that its front end was “under an attack” and that the issue is “currently under investigation.” The website remains flagged as deceptive as of 10:42 p.m. EST.

It’s not yet clear whether the attack has impacted user funds, though blockchain security company PeckShield said that about $238,000 worth of cryptocurrency was stolen.

#PeckShieldAlert @Balancer has reported that its frontend under an attack, ~$238k worth of cryptos were stolen https://t.co/aAaj0Xqery pic.twitter.com/YDIjfnNYM4

— PeckShieldAlert (@PeckShieldAlert) September 20, 2023

Balancer did not immediately respond to Unchained for comment.

Last month, the platform urged users to withdraw their funds after discovering a critical security vulnerability, which had not yet been exploited. According to CoinDesk, users heeded the warning, which led to hundreds of millions of dollars being wiped from the protocol’s total value locked (TVL).