⚠️DeFi Protocol Balancer was hacked today

The loss has exceeded 116.6 million dollars

The team is calling out to the hacker on-chain, hoping to recover 80%

This is not the first time Balancer has been attacked

1️⃣ June 2020 Flash Loan Attack: The attacker exploited the compatibility issue between the deflationary token (STA/STONK) and Balancer's smart contract, clearing the liquidity pool by repeatedly calling swapExactAmountIn, ultimately profiting 523,600 dollars.

2️⃣ August 2023 V2 Pool Vulnerability: The Balancer V2 pool suffered multiple flash loan attacks due to a code vulnerability, with total losses reaching 2.1 million dollars.

3️⃣ September 2023 Frontend Hijacking Attack: Hackers took control of Balancer's frontend through BGP/DNS hijacking, inducing users to authorize malicious contracts, resulting in a loss of 238,000 dollars.

4️⃣ 2023 Euler Incident Impact: Due to a vulnerability in Euler Finance, Balancer's bbeUSD pool suffered a loss of 11.9 million dollars, accounting for 65% of the pool's TVL. The team has taken protective measures to limit liquidity withdrawals.

5️⃣ 2024 Velocore Attack Association: The Velocore vulnerability exploited involved Balancer-style CPMM pools, resulting in a loss of 6.8 million dollars. Balancer's technical architecture was indirectly implicated due to cross-protocol integration.

At the same time, Balancer is still a mainstream DeFi protocol

The recent market has turned even colder 🥶