Balancer announces $27M may be at risk due to vulnerability in DeFi pools | Headlines | News | CoinMarketCap

08/23/2023 04:32
Balancer announces $27M may be at risk due to vulnerability in DeFi pools | Headlines | News | CoinMarketCap

The DeFi platform Balancer (BAL) disclosed a vulnerability affecting several of its pools in a statement published on Aug. 22. In that post, …

The DeFi platform Balancer (BAL) disclosed a vulnerability affecting several of its pools in a statement published on Aug. 22.

In that post, Balancer Labs said that the vulnerability in question had not been exploited and said that 80% of the issue had been mitigated. However, the project acknowledged that a small amount of funds — amounting to about 4% of its total value locked (TVL) — are still at risk.

Data from DefiLlama says that Balancer currently has a TVL of $691 million, meaning that roughly $27 million is at risk.

In response to the issue, 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; it also urged liquidity providers to exit at-risk pools.

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