Balancer Discloses Critical Vulnerability With $33M At Risk
Team Warns Users To Withdraw Assets From Affected Liquidity Pools
By: Owen Fernau • Loading...DeFi News
The team behind the Balancer decentralized exchange has divulged a critical vulnerability that has the potential to impact some of its liquidity pools.
The “at-risk” pools represent 4%, or roughly $33M, of Balancer’s $836M in total value locked (TVL), according to a forum post describing the issue. The team claims it has mitigated the threat in other pools but still recommends that users withdraw their assets.
The project’s interface has been updated to inform users to withdraw their funds if they are in any affected pools.
A list of vulnerable pools across eight blockchains is available on Github.
As of 11:52 am EDT, no funds have been lost due to the vulnerability, according to a post on Balancer’s Discord server.
Processing just over $271M this week, Balancer is a top ten decentralized exchange by volume, according to DeFiLlama. BlockScience, a research and development firm, began working on the exchange in 2018, with the first version going live in 2020.
Balancer is widely integrated across DeFi, especially through Aura, which acts as a yield booster for Balancer’s BAL token.
A post-mortem on the vulnerability is forthcoming, according to the forum post.
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