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‘Sophisticated’ Hacker Plunders $450,000 From Defi Protocol Balancer

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Decentralized finance (Defi) protocol ​Balancer was on Sunday hacked for more than $450,000 worth of cryptocurrency.

In two separate transactions, an attacker targeted two pools containing Ethereum-based tokens with transfer fees – or so-called deflationary tokens.

Pools with Sta and Stonk tokens were affected by this exploit, Balancer, an automated market marker protocol, said on June 29.

The hacker made off with around 601 ether, 11 wrapped bitcoin (WBTC), 22,600 chainlink (LINK), and 61,000 synthetix (SNX) – altogether totaling more than $451,000.

According to an analysis by Dex aggregator 1inch.exchange, the attacker used a smart contract to automate multiple ...

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