Balancer DAO salutes defi response team for aid in $230K UI exploit

  crypto.news 10 h

Balancer DAO, a decentralized autonomous organization governing the protocol, protocol thanked a team of security experts for their help following a DNS attack on a top level .fi domain registrar employed by Balancer.

Balancer DAO called attention to SEAL 911, a Telegram bot built during the Curve Wars that ensued following the Curve Finance exploit. The bot operates as an emergency channel that connects users and protocols to a pool of vetted defi security experts.

The Balancer DAO would like to express its heartfelt gratitude to all ecosystem members who acted swiftly and diligently to mitigate the effect of the recent DNS attack.

[1/5] pic.twitter.com/SeU43AMKPD

— Balancer (@Balancer) September 22, 2023

Balancer DAO also extended thanks to Metamask developers Nikita and Taylor Mohana (Tayvano) for Metamask block-ups deployed to mitigate further attacks.

Alone we can do so little, together we can do so much. Through collaboration, the Balancer ecosystem continues to grow stronger in the face of adversity. Thank you!

Balancer DAO update

The DAO’s remarks follow a EuroDNS attack on Sept. 20 which resulted in losses up to $238,000 in crypto.

As crypto.news reported, hackers hijacked Balancer’s frontend interface and sought malicious access to users’ non-custodial wallets through sophisticated social engineering.

A report from Balancer said the issue originated from a top level .fi domain registrar.

The decentralized automated market marker (AMM) protocol has repelled two attacks amid a raft of exploits targeted at crypto operators. On Aug. 23, Balancer secured 95% of funds at risk due to a vulnerability.

Hackers later exploited the same vulnerability and managed to siphon $900,000 from the protocol.

On the surface, other protocols have suffered heavier attacks and reported greater losses. Platforms like CoinEx, Curve Finance, and Stake lost millions of dollars to exploits.

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