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Phoenix Group
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#DeFi protocol #Balancer asked liquidity providers to remove their liquidity immediately from some pools because of a security issue.
#DeFi protocol #Balancer asked liquidity providers to remove their liquidity immediately from some pools because of a security issue.
Top 10 Promising Projects with Market Cap Under $300 million This time we made a list of the top 10 projects, in our opinion, with a current market cap under $300 million, which you can take a closer look at. #Waves #Balancer #hiddengem #crypto2023 #dyor
Top 10 Promising Projects with Market Cap Under $300 million

This time we made a list of the top 10 projects, in our opinion, with a current market cap under $300 million, which you can take a closer look at.

#Waves #Balancer #hiddengem #crypto2023 #dyor
LIVE
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Υποτιμητική
1. Balancer (BAL), a decentralized finance (DeFi) protocol, experienced a rapid decrease in total value locked (TVL) by over $200 million within 24 hours due to a critical vulnerability. 2. The #Balancer team identified this vulnerability in several Version 2 #Pools and alerted users via a #social media post on X. 3. Users were advised to withdraw funds from affected #liquidity pools (LPs) immediately to mitigate potential risks. 4. Although only 1.4% of the total TVL was deemed at risk, Balancer took preventive measures, including pausing some pools, to secure the majority of funds. 5. Balancer recommended migrating to safer pools or making withdrawals, particularly from pools labeled as "at risk." 6. Following the announcement, the #TVL on Balancer decreased from $840 million to $630 million on August 23rd. 7. Balancer successfully safeguarded most of the funds, and the current TVL on the protocol is now approximately $669 million. 8. The protocol informed users that swift action by Balancer LPs ensured over 97% of initially vulnerable liquidity is now secure. 9. While the vulnerability wasn't exploited, approximately 0.89% of total TVL ($5.6 million) remains at risk, prompting users to withdraw funds as soon as possible through the user interface. 10. This incident underscores the proactive approach of the Balancer team and the decentralized finance community in addressing potential security vulnerabilities to protect user assets. $BAL
1. Balancer (BAL), a decentralized finance (DeFi) protocol, experienced a rapid decrease in total value locked (TVL) by over $200 million within 24 hours due to a critical vulnerability.

2. The #Balancer team identified this vulnerability in several Version 2 #Pools and alerted users via a #social media post on X.

3. Users were advised to withdraw funds from affected #liquidity pools (LPs) immediately to mitigate potential risks.

4. Although only 1.4% of the total TVL was deemed at risk, Balancer took preventive measures, including pausing some pools, to secure the majority of funds.

5. Balancer recommended migrating to safer pools or making withdrawals, particularly from pools labeled as "at risk."

6. Following the announcement, the #TVL on Balancer decreased from $840 million to $630 million on August 23rd.

7. Balancer successfully safeguarded most of the funds, and the current TVL on the protocol is now approximately $669 million.

8. The protocol informed users that swift action by Balancer LPs ensured over 97% of initially vulnerable liquidity is now secure.

9. While the vulnerability wasn't exploited, approximately 0.89% of total TVL ($5.6 million) remains at risk, prompting users to withdraw funds as soon as possible through the user interface.

10. This incident underscores the proactive approach of the Balancer team and the decentralized finance community in addressing potential security vulnerabilities to protect user assets.

$BAL
LIVE
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Ανατιμητική
🔥🔥 Andrew Kang just swapped 105.75K $USDC for 341.57K $RDNT at $0.309 for the very first time 30 mins ago! Wallet 0xbba also received 1M $RDNT from #Binance at $0.306 ($306.3K) an hour ago and staked all along with 41 $ETH to #Balancer 🚀 $RDNT is up by 6.5%+ over the past 24 hrs. 👉 Details:  https://twitter.com/spotonchain/status/1664489620216897538
🔥🔥 Andrew Kang just swapped 105.75K $USDC for 341.57K $RDNT at $0.309 for the very first time 30 mins ago!

Wallet 0xbba also received 1M $RDNT from #Binance at $0.306 ($306.3K) an hour ago and staked all along with 41 $ETH to #Balancer

🚀 $RDNT is up by 6.5%+ over the past 24 hrs.

👉 Details:  https://twitter.com/spotonchain/status/1664489620216897538
LIVE
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Υποτιμητική
(CyversAlert) Our system has detected a suspicious transaction with " #texasbitcoin.eth " labelled address! We could not find any social media or website to reach out to victim! Attacker was able to gain $40K #USDP. Attacker has swapped all #USDP to #ETH It seems that the same attacker has exploited #Balancer on Sept'23. See the conversion in the attachment between Balancer deployer!
(CyversAlert)

Our system has detected a suspicious transaction with " #texasbitcoin.eth " labelled address! We could not find any social media or website to reach out to victim!

Attacker was able to gain $40K #USDP. Attacker has swapped all #USDP to #ETH

It seems that the same attacker has exploited #Balancer on Sept'23. See the conversion in the attachment between Balancer deployer!
🔄🔀 Balancer expands liquidity on OpenOcean DEX aggregator! 🌐🚀 Balancer announces integration with OpenOcean to enhance user liquidity and offer optimal swap paths. 💱💧 A step towards providing a seamless DeFi experience with increased liquidity options! 📈🔗 #Balancer #OpenOcean #DeFiLiquidityExpansion
🔄🔀 Balancer expands liquidity on OpenOcean DEX aggregator! 🌐🚀 Balancer announces integration with OpenOcean to enhance user liquidity and offer optimal swap paths. 💱💧 A step towards providing a seamless DeFi experience with increased liquidity options! 📈🔗 #Balancer #OpenOcean #DeFiLiquidityExpansion
POTENTIAL CONSEQUENCES REGARDING THE BALANCER FRONTEND ATTACK While the investigation is ongoing, it's essential to consider the potential consequences of this attack: 1. Users who may have ignored the warning (DO NOT INTERACT) and interacted with the compromised UI could potentially suffer financial losses. It's crucial to be cautious and vigilant during this period. 2. Incidents like these can damage the reputation of DeFi platforms. Trust is paramount in the crypto space, and security breaches can erode it significantly. 3. Regulatory bodies are closely monitoring the DeFi sector. Security incidents can attract unwanted attention, potentially leading to regulatory changes that affect the entire ecosystem. Given the seriousness of the situation, here are steps you should take to protect your assets: If you've recently used the Balancer frontend, it's wise to check your account and transaction history. Look for any unusual activity or unauthorized transactions. If you suspect anything, contact the platform immediately. Keep an eye on official announcements from Balancer. They will provide updates on the progress of the investigation and when it's safe to resume using the platform. Consider diversifying your assets across multiple DeFi platforms. This reduces the risk of a single attack affecting all your holdings. Always follow best security practices, such as using hardware wallets, enabling two-factor authentication (2FA), and using secure, private networks for transactions. Understand the DeFi projects you're involved in. Being well-informed about the platforms you use can help you make better decisions and spot potential issues early. #crypto2023 #Balancer
POTENTIAL CONSEQUENCES REGARDING THE BALANCER FRONTEND ATTACK

While the investigation is ongoing, it's essential to consider the potential consequences of this attack:

1. Users who may have ignored the warning (DO NOT INTERACT) and interacted with the compromised UI could potentially suffer financial losses. It's crucial to be cautious and vigilant during this period.

2. Incidents like these can damage the reputation of DeFi platforms. Trust is paramount in the crypto space, and security breaches can erode it significantly.

3. Regulatory bodies are closely monitoring the DeFi sector. Security incidents can attract unwanted attention, potentially leading to regulatory changes that affect the entire ecosystem.

Given the seriousness of the situation, here are steps you should take to protect your assets:

If you've recently used the Balancer frontend, it's wise to check your account and transaction history. Look for any unusual activity or unauthorized transactions. If you suspect anything, contact the platform immediately.

Keep an eye on official announcements from Balancer. They will provide updates on the progress of the investigation and when it's safe to resume using the platform.

Consider diversifying your assets across multiple DeFi platforms. This reduces the risk of a single attack affecting all your holdings.

Always follow best security practices, such as using hardware wallets, enabling two-factor authentication (2FA), and using secure, private networks for transactions.

Understand the DeFi projects you're involved in. Being well-informed about the platforms you use can help you make better decisions and spot potential issues early.

#crypto2023 #Balancer
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