Decentral Block Post

The team behind Balancer, an Ethereum-based automated market maker, believes a social engineering attack on its DNS service provider was what led to its website’s frontend 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 post.

Approximately 8 hours after the first warning of the attack, Balancer said its decentralized autonomous organization (DAO) was actively addressing the DNS attack and was working to recover the Balancer UI.

At 5:45 pm UTC on Sept. 20, Balancer said it was successful in securing the domain and bringing it back under the control of Balancer DAO. It also confirmed its subdomains “app.balancer.fi” and other “balancer.fi” are safe to use again.

However, it suggested any other projects using the same top-level domain should consider moving to a more secure registrar. 

Adult content creators have continued to shift towards decentralized versions of OnlyFans and Patreon, after recent payment difficulties and the ever-present threat of being de-platformed.

Leon Lee, founder and CEO of Only1 — a decentralized version of OnlyFans — tells Cointelegraph there has been a recent power shift from intermediaries to content creators, thanks to Web3.

“The role of intermediaries are diminishing while the role and earnings of creators are increasing,” said Lee.

In August, creators on Patreon reported having difficulties withdrawing their earnings from the platform as payments were being flagged as fraudulent by banks.

Many content creators also haven’t likely forgotten when OnlyFans tried to ban sexually explicit content in 2021, only to reverse the decision days later.

Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sep. 20. However, long-term investors are unfazed and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July.

This bullish temperament is not reflected in institutional activity, however. Investors have cut down on their cryptocurrency exposure and are sitting on the sidelines awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products hit $455 million over the past nine weeks.

Meanwhile, analysts remain divided about Bitcoin’s near-term price action. Bollinger Bands creator John Bollinger speculated in a X (formerly Twitter) post that Bitcoin could start an up-move but added that it was “too early to answer.”

The volatility could increase after Fed Chair Jerome Powell’s press conference but traders should be careful not to get sucked into a bull or a bear trap. It is better to wait on the sidelines and enter after the volatility subsides and a directional move begins.

What are the important levels to watch for on Bitcoin and the major altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.