Balancer's Annual Security Incident Review: Total Losses Exceed $21 Million Due to Flash Loans, Front-End Hijacking, and Cross-Protocol Vulnerabilities
BlockBeats News, November 3rd, the DeFi protocol Balancer is currently under attack, with losses exceeding $1.166 billion across multiple chains, and the attack on Balancer is still ongoing. According to on-chain AI analysis tool CoinBob (@CoinbobAI_bot) summary, Balancer's historical security events are as follows:
· June 2020 Flash Loan Attack: An attacker exploited the compatibility issue between deflationary tokens (STA/STONK) and the Balancer smart contract, draining the liquidity pool by repeatedly calling swapExactAmountIn, ultimately profiting $523,600.
· August 2023 V2 Pool Vulnerability: The Balancer V2 pool was subjected to multiple flash loan attacks due to a code vulnerability, resulting in a total loss of $2.1 million. The team urgently paused the affected pool and advised users to withdraw, but funds that were not withdrawn in time were still exploited.
· September 2023 Frontend Hijacking Attack: A hacker seized control of the Balancer frontend through BGP/DNS hijacking, tricking users into authorizing a malicious contract, resulting in a loss of $238,000. On-chain sleuth ZachXBT traced the fund flow to address 0x645710Af050E26bB96e295bdfB75B4a878088d7E.
· 2023 Euler Incident Fallout: Due to a vulnerability in Euler Finance, the Balancer bbeUSD pool suffered a $11.9 million loss, representing 65% of the pool's TVL. The team took protective measures to restrict liquidity withdrawals.
· 2024 Velocore Attack Affiliation: The Velocore exploit involving a Balancer-style CPMM pool resulted in a $6.8 million loss. Balancer's technical architecture was indirectly implicated due to cross-protocol integration.
You may also like
What you bought on CEX is really not US stocks: Analyzing the 94% liquidation monopoly and the evaporation of equity under a five-layer pipeline
In such a crowded cross-border payment arena, where is the next stop for the future?
Why Is Bitcoin Down in 2026? What We Can Learn From 2022
The large models in the United States are moving towards closure in the name of security
From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework
Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion
Global Launch: As predictions become the most scarce asset in the AI era, Manadia is defining the next generation of the value internet
Why do cryptocurrency projects always like to change their names?
Who is footing the bill for the $64 billion accounting frenzy?
I never expected that the first application of AI x Crypto would be in security auditing
What is your view on Binance's competitive advantages?
ETH has entered a non-consensus phase, and the turning point is approaching!
The shift in the cloud of the air: from despising stablecoins a year ago to the high-profile entry of capital today
The survival dilemma of small and medium exchanges behind the withdrawal anomalies exposed by AscendEX
Why Is Bitcoin Falling Below $60K? 5 Key Market Drivers Explained
Bitcoin has dropped sharply amid ETF outflows, Strategy stock weakness, AI stock rallies, and changing Fed expectations. Explore the key forces driving BTC’s latest correction and what traders should watch next.
Bitcoin vs. Gold in 2026: Which Asset Performs Better in Different Markets?
The cryptocurrency industry has entered the "Show Me" era: merely relying on vision is no longer enough
Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies
What you bought on CEX is really not US stocks: Analyzing the 94% liquidation monopoly and the evaporation of equity under a five-layer pipeline
In such a crowded cross-border payment arena, where is the next stop for the future?
Why Is Bitcoin Down in 2026? What We Can Learn From 2022
The large models in the United States are moving towards closure in the name of security
From the white-haired stock god to the billionaire fund mogul, the smart people shorting Nvidia are all getting rich using the same framework
Morning Report | CoinEx becomes a key hub for Iran to evade sanctions, involving over $3.8 billion in funds; Kalshi seeks a new round of financing, with a valuation potentially rising to $40 billion
Popular coins
Latest Crypto News
