Balancer website hijack puts users at risk

Balancer’s user interface woes follow an exploit last month targeting its liquidity pools


Vladimir Kazakov/Shutterstock, modified by Blockworks


DeFi liquidity protocol Balancer is staring down yet another security vulnerability, this time targeting its user interface. 

The platform issued a notice on social media Tuesday evening, urging users not to interact with the main Balancer UI until further notice as they investigate. Investors and users of Balancer are advised to remain vigilant and await further updates.

Crypto sleuth ZachXBT, revealed on X, formerly Twitter, that the stolen funds are being funneled into a specific Ethereum address. Approximately $238,000 has reportedly been pilfered so far. 

Analysis of the address shows it currently holds 68 ether (ETH) valued at more than $111,000, based on the current ETH price of $1,636.

In the last eight hours, a series of ERC-20 token transfers involving the address labeled “Balancer Attacker” can be viewed from Etherscan, a popular analytics tool. 

Tokens, including Balancer’s native BAL token, liquid staked ether, Aave’s wrapped tokens, and several others, have so far been transferred in and out of the address.

The developments Wednesday follow a series of assaults against the protocol in recent weeks including an exploit of a critical vulnerability in its v2 pools late last month.

Built on the Ethereum blockchain, Balancer functions as both an automated market maker and a liquidity protocol, allowing users to trade tokens directly from its liquidity pools, without the need for a traditional order book.

In recent hours, Balancer’s native token (BAL) has experienced some volatility, though the full extent of the financial fallout remains to be seen. BAL is down 3.2% on the day from a top of $3.44 to $3.27, exchange data shows.

Balancer is not the first DeFi platform to fall victim to a cyber-attack this year. There has been a noticeable uptick in security breaches targeting DeFi projects in recent months, leading to a broader conversation in the industry about the need for enhanced security measures.

The Balancer team said it is currently investigating the issue, and it’s yet unclear how the attackers managed to exploit the system. Blockworks has reached out to learn more.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


Plus, Sotheby’s auctions an EtherRock and telecom giants get in on Web3


Elsewhere, Cowen’s crypto employees moved to StoneX and Nomura’s crypto custody firm CEO stepped down


If DeFi can just figure out how to improve both security and compliance, nothing would stop traditional finance from entering the game


Earnings from Coinbase and Robinhood boosted stock prices, while bitcoin’s open interest hits highs not seen since 2021, 2022


Ethereum Dencun will enable Ethereum transactions to be submitted as blobs, potentially alleviating the costs of posting data on the blockchain


After a rocky start, bitcoin ETF shareholders are now well in the green