Balancer Labs recently announced a critical vulnerability report affecting a number of V2 Pools. The firm took action to secure the majority of the total value locked (TVL) but some funds remain at risk. Users were advised to withdraw from affected liquidity pools immediately.The project reassured users that the majority of funds on Balancer are safe and only 1.4% of the total value locked is at risk. Several pools have been paused to mitigate risks and will remain so, with users advised to withdraw liquidity as soon as possible.At the time of writing, the vulnerability had not been exploited and no funds had been lost. Balancer Labs noted that the vulnerability had been mitigated for over 80% of the pools and the remaining funds at risk represent about 4% of Balancer TVL.The native token BAL dropped 4% in the hours following the announcement but has managed to recover over the past few hours. BAL remains 95% down from its May 2021 all-time high of $74.45.
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Balancer Labs, DeFiLlama, Balancer Labs Forums, DeFi, Binance, PrimeXBT. |
| Companies | Balancer Labs, DeFiLlama, Balancer, Binance, PrimeXBT |
| Currencies | BAL, Bitcoin, Ethereum, Polygon, Optimism |
| Securities | None |
