Balancer Labs recently disclosed a vulnerability affecting several of its pools in a statement published on Aug. 22. The project reported that the vulnerability had not been exploited and that 80% of the issue had been mitigated. However, a small amount of funds, amounting to about 4% of its total value locked (TVL), remain at risk. In response, Balancer’s Emergency SubDAO enabled proportional exit from affected pools and paused certain pools. Balancer urged users to migrate funds to safe pools or withdraw their funds, and liquidity providers to exit at-risk pools.Following the announcement, roughly $149 million has been withdrawn from Balancer’s TVL. Balancer has not yet published a full post-mortem of the vulnerability, nor has it revealed the source from which the first report originated.DeFi platforms have seen millions of dollars worth of theft this year, with one analysis suggesting that $77 billion has been stolen in 2023 to date. Balancer has been hacked or put at risk in other incidents, including an attack in 2021 that stole more than $500,000 and an attack in March 2023 that affected $11.9 million of funds.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
negative |
| Relevance Score |
8 |
| People |
None |
| Currencies |
BAL, Bitcoin, Ethereum, None |
| Securities |
None |
