Balancer, an Ethereum-based decentralized exchange, has confirmed that its V2 pools were exploited for an undisclosed sum. The protocol revealed that its mitigation procedure was able to minimize the impact of the exploit, but users are advised to withdraw their funds from the affected pools to prevent further attacks.According to DeFillama data, Balancer’s Total Value Locked (TVL) has declined by nearly 20% to $676.47 million from $840 million over the last seven days. This means that users have withdrawn roughly $164 million of assets from the platform since the vulnerability fears emerged.On Aug. 22, Balancer said a vulnerability affecting several of its pools put about 4% of the total value of assets locked (TVL) on its platform at risk. The protocol urged users to remove their funds from the affected pools.Cyvers Founder Meir Dolev claimed that about $900,000 was stolen from the exploit, adding that more than $600,000 has been moved into a new address. An address linked to the hacker also contains over $979,000 worth of DAI tokens, which it received in three transactions.The Balancer vulnerability fears emerged on the heels of an exploit on Curve that resulted in over $60 million in losses and posed a contagion threat to numerous DeFi platforms.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | negative |
| Relevance Score | 8 |
| People | Meir Dolev |
| Companies | Ethereum, DeFillama, Balancer, Curve, DeFi |
| Currencies | ethereum, bitcoi, dai |
| Securities |
