# DeFi activity on the decline, but investment rolls in: Finance Redefined

**Published by:** [Masih](https://paragraph.com/@4545f/)
**Published on:** 2023-09-23
**URL:** https://paragraph.com/@4545f/defi-activity-on-the-decline-but-investment-rolls-in-finance-redefined

## Content

The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider led to its website’s front end being compromised on Sept. 19, leading to an estimated $238,000 in crypto stolen. “After investigation, it is clear that this was a social engineering attack on EuroDNS, the domain registrar used for .fi TLDs,” the firm explained in a Sept. 20 X (formerly Twitter) post. Approximately eight hours after the first warning of the attack, Balancer said its decentralized autonomous organization was actively addressing the DNS attack and was working to recover the Balancer UI. A new analysis by investment management fund VanEck revealed that economic activity in the DeFi sector dropped 15.5% in August. Blockchain Capital, on the other hand, announced two new crypto-focused funds totaling $580 million. Balancer protocol blamed its recent exploit on its DNS service provider, claiming that a vulnerability in the code allowed the exploiters to hijack the front end, and Chainlink and Arbitrum have teamed up on decentralized application (DApp) development on Ethereum layer-2 scaling solution Arbitrum. The top 100 DeFi tokens had a bearish week due to the market decline after the United States Federal Reserve’s interest rate pause, with most tokens trading in the red. https://cointelegraph.com/news/defi-activity-on-the-decline-but-investment-rolls-in-finance-redefined

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