A Major Security Incident for Balancer.
Despite ongoing growth in the DeFi industry, security concerns remain in place today. Balancer, a job got traction recently, has gone through a security occurrence over the weekend..
For now, it does not appear as if this will have that big of an effect on the platform.
An assailant drained funds from 2 pools including tokens with transfer charges.
According to the article, this was enabled thanks to a flash loan from dYdX, and using Wrapped Ethereum.
This is in line with how all DeFi jobs are developing since late.
A 3rd audit will happen in the near future, along with an internal evaluation of the platform..
Balancer is among the DeFi projects getting a lot of attention lately.
For Balancer, a recent security incident does raise a lot of questions.
It is a security incident that took the Balancer team by surprise, as they werent familiar with this attack vector..
Image( s): Shutterstock.com.
Balancer as a platform will go through some changes, as brand-new security measures need to be put in place.
It is also worth noting that the previous 2 audits of Balancer did not highlight this problem either.
Cryptocurrency lovers want to earn money at all costs, and passive income is always the best option.