Hacker attacked Balancer's DeFi protocol. $ 500,000 Tokens Stolen

It was not possible to establish the identity of the criminal.He used the Ethereum mixer Tornado Cash, which confusestransactions so that they cannot be tracked.

Hacker attacked the DeFi protocol and stole from itpools of tokens in the amount of at least $ 500,000. One of the first to report the problem was analyst Steven Zheng. Then information about the theft was confirmed by the representative of the 1inch exchange and co-founder of Balancer Labs Mike MacDonald.

“The funds were used by the hacker to exchange WETHon the STA and back 24 times. As a result, the STA pool was empty. Each time WETH was transferred to STA, the Balancer pool received 1% less STA than it should have been, ”1inch explained.

This is made possible by the built-in STA.a deflation mechanism that destroys 1% of the amount transferred with each transaction. Thus, the hacker withdrew WETH, WBTC, SNX and LINK tokens from the smart contract.

A spokesman called the hacker advanceda smart contract developer who is deeply versed in leading DeFi protocols. He could not be tracked because he used the Tornado Cash Ethereum mixer.

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