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Balancer: Mitigation procedures have been developed for the vulnerability but the affected pool cannot be suspended, and the exact loss amount cannot be disclosed for the time being.

2023-08-31 00:46
Odaily News DeFi liquidity protocol Balancer issued an article on X in response to the vulnerability risk, saying that it has developed mitigation procedures to reduce the risk, but it cannot suspend the affected pool, and urges users to immediately use the user interface (UI) to exit the affected LP. Due to Balancer LPs vigilance and swift action, the vast majority of liquidity that was initially deemed risky was withdrawn. However, five days after the vulnerability was disclosed (August 27), malicious actors still managed to exploit vulnerabilities in some affected pools within the Balancer and Beethoven X protocols. The Balancer and Beethoven X communities are taking steps to thoroughly investigate the situation and are actively working with relevant partners, legal teams, and security experts to resolve the issue. The safety of users remains the highest priority, and if the UI does not prompt to exit the liquidity pool or allow users to enter the liquidity pool, then the pool is not at risk and is considered safe to use. The team is still gathering information about some recent vulnerabilities, so exact numbers related to losses cannot be disclosed at this time. During this period, the team will remain vigilant and keep the community updated as the situation progresses. Previously, on August 23, Balancer issued a vulnerability notice, which pointed out that some funds (accounting for 0.89% of TVL, approximately 5.6 million U.S. dollars) were at risk; a few days later, according to Pidun monitoring, Balancers losses had exceeded 2.1 million U.S. dollars, and Ethereum, Fantom Multiple pools on Optimism were affected.