- The Balancer DeFi lending platform front end was attacked and partially drained of about $240K in crypto.
- Ben Armstrong, also known as BitBoy, is asking the community for donations, which the community is not responding well to.
- Linear Finance’s stablecoin $LUSD has lost nearly all of its on-chain liquidity from PancakeSwap and Ascendex due to a hack.
Balancer Drained Through the Front End
Popular DeFi lending platform Balancer was exploited this week via an alleged socially engineered DNS attack on the website balancer.fi which left the front end open to attack. In all, roughly $240K in $ETH, $WETH, $stETH, $OP, $BAL, and several other tokens on Ethereum, Avalanche, Optimism, and other chains were taken. The hacker has been moving funds around since the attack ended. Track the token movements with our Wallet Recon tool. Balancer has notified the community that its site is safe to use again.
Bitboy Legal Troubles
Popular YouTuber Ben Armstrong, also known as BitBoy, has run into legal battles regarding the rights to the YouTube channel BitBoy Crypto (now known as Discover Crypto), which have been stripped from him for now. As a result, the influencer claims that he has lost the vast majority of his assets, and has asked the community to donate him the legal fees he needs to claw back the property he sees as his own. The community has not responded with an outpouring of support. Track his Ethereum wallet using Entity Flows.
Linear Stablecoin Goes Down (In a Straight Line)
In a different type of exploit to the Balancer one, cross-chain crypto trading platform Linear Finance has seen its stablecoins Linear USD $LUSD drop down from a dollar to less than a cent in a matter of seconds on BNB Chain. The price drop is due to about 99% of liquidity for $LUSD being drained from PancakeSwap and Ascendex. All contracts for minting, burning, or exchanging $LUSD have been paused by the team, calling the community to wonder if or when the stablecoin will repeg.
Let's Talk About CEX: The top ERC-20 tokens transferred at centralized exchanges
This section reviews the ERC-20 token transfer flow trends from the largest centralized exchanges from September 15-21, such as Binance, Coinbase, Huobi, and Kraken.
- Net Flows (USD): +$2,460,053,883
- Total Transfers: 589,518, 287,110 IN / 302,408 OUT
The top five ERC-20 tokens transferred through Binance were:
- Net Flows (USD): +$280,137,915
- Total Transfers: 174,321, 62,765 IN / 111,556 OUT
The top five ERC-20 tokens transferred through Coinbase were:
- Net Flows (USD): +$6,232,869
- Total Transfers: 20,354, 9,361IN / 10,993 OUT
The top five ERC-20 tokens transferred through Huobi were:
- Net Flows (USD): -$163,112,551
- Total Transfers: 27,040, 8,286IN / 18,754 OUT
The top five ERC-20 tokens transferred through Kraken were:
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