<\/p>\n
The DeFi platform Balancer (BAL<\/a>) disclosed a vulnerability affecting several of its pools in a statement published on Aug. 22<\/a>.<\/p>\n 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 \u2014 amounting to about 4% of its total value locked (TVL) \u2014 are still at risk.<\/p>\n Data<\/a> from DefiLlama says that Balancer currently has a TVL of $691 million, meaning that roughly $27 million is at risk.<\/p>\n In response to the issue, Balancer\u2019s 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.<\/p>\n Balancer has seen significant withdrawals following its announcement. Roughly $149 million has been withdrawn from Balancer\u2019s TVL over the past several hours, though it is unclear whether those funds were removed from the at-risk pools.<\/p>\n The project has not yet published a full post-mortem of the vulnerability, nor has it revealed the source from which the first report originated.<\/p>\n Balancer has been hacked or put at risk in other incidents. One attacker stole more than $500,000 by targeting Balancer in 2021, according to Peckshield<\/a>.<\/p>\n One Balancer pool was also affected by broader attacks on Euler Finance<\/a> in March 2023<\/a>, at which time Balancer paused affected assets and pools; though $11.9 million of funds were affected, it is unclear if this amount was ultimately lost. Balancer also disclosed an exploit and advised certain liquidity providers to exit pools in January 2023<\/a>.<\/p>\n DeFi platforms overall have seen millions of dollars worth of theft this year. One recent analysis<\/a> suggests that $77 billion has been stolen in 2023 to date.<\/p>\n The post Balancer announces $27M may be at risk due to vulnerability in DeFi pools<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" 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 […]<\/p>\n","protected":false},"author":2,"featured_media":140916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-140915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=140915"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140915\/revisions"}],"predecessor-version":[{"id":147164,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140915\/revisions\/147164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/140916"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=140915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=140915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=140915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}DeFi platforms at risk of exploits<\/h2>\n