DeFi Exploits Plague Crypto: What was Behind Balancer’s $900K+ Loss

Adekunle Joshua

Balancer, a DeFi platform, loses almost $900k to a hack

The hack occurred days after the company public disclosed some vulnerabilities in its system

Some funds were rescued through emergency procedures, but others are at risk.

Another decentralized finance (DeFi) exploit has hit the crypto market, with Balancer the latest victim

The Ethereum-based DeFi protocol was exploited and almost lost $900,000.

Balancer had warned about a possible vulnerability affecting its boosted pools.

This time around, the event happened.