Hacker Steals About $900,000 in Stablecoins from Balancer

An unknown hacker took advantage of an exploit in the Balancer v2 DeFi programmable liquidity platform to steal around $900,000 worth of DAI stablecoins.

The total amount locked in the protocol has reached $586 million according to DeFi Llama.

To reduce the risks, Balancer suggested “mitigation procedures” but advised users to exit the pools for extra security.

This attack follows a series of related heists; Cypher decentralized exchange was robbed of $1 million via Solana, Zunami Protocol of $2.1 million and Exactly Protocol of $12 million by exploiting a smart contract vulnerability.