All news with #balancer tag

Balancer DeFi Protocol Loses Over $120M in Cyber Heist

🔐 Balancer, an Ethereum automated market maker, has been hit by a sophisticated exploit of its V2 Composable Stable Pools, with estimated losses exceeding $120 million. The team says pools that could be paused have been placed into recovery mode while it works with leading security researchers to investigate. Early analysis suggests a 'rounding down' precision loss in the Balancer Vault calculations was exploited and amplified via the batchSwap function. Balancer confirmed V3 pools were not affected and warned users about related phishing scams.

Balancer V2 Exploit Drains Over $120 Million in Crypto

🚨 Balancer announced an exploit of its V2 Compostable Stable Pools on Ethereum at 07:48 UTC that resulted in reported losses exceeding $128 million. Initial analysis from GoPlus Security points to a precision rounding error in the Vault’s swap calculations that an attacker chained via batchSwap, while other researchers suggest improper authorization and callback handling in V2 vaults. Balancer says the issue is isolated to V2 Compostable Stable Pools, with V3 and other pools unaffected, and the team is working with security researchers on a full post‑mortem. Users are warned to remain vigilant for scams and phishing attempts following the incident.