DeFi Concerns Rise as Balancer’s Web Front End Battles Ongoing Attack

The Peckshield team said that a frontend compromise of the DeFi protocol by Balancer led to the theft of roughly $240,000 in digital assets. This could indicate that the balancer was involved in the hacking of digital assets.

A Balancer spokesperson announced earlier today that the company’s front end is currently being attacked and advised users not to interact with the interface until further notice as a precaution.

There have been tweets from Balancer that suggest the Balancer URL – or the web address for the Balancer service — has been victimized by a redirect attack, and users are being sent to a malicious website rather than the Balancer site that they are expected to find. 

By exploiting the trust users place in a website, cybercriminals can launch redirect attacks by inserting malicious code in a website’s code or in an email sent by a phishing website to redirect users to a malicious web page. 

According to blockchain security firm Certik, hacks, exploits, and scams have cost over $1 billion in losses across the crypto sector as of early September this year, due to hacks, exploits, and scams across the market. Traders trading cryptocurrencies lost a total of $303 million in June alone, the worst month of the year for losses related to cryptocurrency hacks. 

A crypto sleuth on the chain called Zac

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