Balancer says $2.8M still at risk after vulnerability warning
Ethereum automated market maker and decentralized finance (DeFi) protocol Balancer warned that $2.8 million, or 0.42% of its total value locked (TVL), remains at risk following the discovery of a vulnerability on Aug. 22.
According to the Aug. 24 announcement, users are asked to "withdraw ASAP" if they have connected wallets to affected liquidity provider pools (LPs). A personal user interface was established via the protocol's website to determine if user funds were at risk, which then suggests to unstake, withdraw, and unwrap the affected tokens.
Selected at-risk assets include those on the Balance mainnet, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom, and zK-EVM.
On the day of discovery, Balancer said 4% of its $669 million TVL was affected after developers mitigated 80% of the critical vulnerability. In an Aug. 23 update, Balance said that the vulnerability had not been exploited, but at the time, $5.6 million worth of funds remained at risk. Developers stated:
Cointelegraph reported on June 2 that Balance had launched on Ethereum layer-2 network Optimism. Balancer Labs CEO Fernando Martinelli said the Optimism deployment reflects his belief that layer-2 scaling solutions will be effective in reducing transaction fees and network congestion. At the time, there were a total of 38 projects building on the Optimism network.
Over 98.7% of liquidity initially deemed vulnerable is now SAFE.
As of writing, the vulnerability has not been exploited.
However, 0.42% of total TVL ($2.8 million) remains at risk, with users advised to withdraw ASAP using the UI.https://t.co/PDzX32fSpk pic.twitter.com/0eLGQ7peoR
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