Decentralized exchange Balancer hacked twice in two months

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Decentralized exchange Balancer hacked twice in two months

Decentralized exchange balancer was attacked twice in two months.

The interface for Balancer, a decentralized exchange, is currently violated, according to the project's account on X.

The project's Discord calls it a domain name service attack, which involves redirecting the IP address, a number which identifies a computer connected to the internet, a URL resolves to.

ZachXBT, an on-chain researcher, said that user funds are being redirected to an unknown Ethereum account, presumably the attacker's. The account is nearly $238,000, a decrease from the previous year's $238,000.

Balancer's smart contracts are not compromisable, according to a moderator on the project's Discord. The site is at risk because only users interacting with it are at risk.

The decentralized exchange has been favored by hackers - just last month it shed hundreds of millions in total value locked as the team urged users to pull their assets off the platform.

Balancer has made efforts in the past to shore up its defenses - for example, the project employed a $2 million bug bounty in 2021.