DeFi liquidity protocol Balancer suffered an exploit following the discovery of a critical vulnerability in its v2 pools last week.
The Balancer team acknowledged Sunday that they are aware of the exploit and most funds in affected pools have been withdrawn.
Meir Dolev, the chief technology officer of blockchain security company Cyvers.AI, noted in a post on X yesterday that the attacker had secured $900k from the exploit.
Following the vulnerability’s discovery, liquidity providers were asked to exit their positions through a proportional exit.
Read more: ‘Critical vulnerability’ reported in Balancer v2 pools
An earlier Balancer post noted that over 99.7% of liquidity originally at risk is now safe and only 0.08% of the total value locked (TVL) remained at risk.
Blockchain security company PeckShield questioned this figure in a Monday post, contending that their analysis indicates more than $2.1 million remains in affected v2 pools.
“The Balancer team has done a great job in alerting the community to remove liquidity from affected vaults, the original estimate of “only 0.08% of total TVL ($565,199) remains at risk” seems to be seriously mis-calculated,” PeckShield tweeted.
At the time of writing, Balancer’s native token (BAL) was trading at $3.51, a little below $3.6 prior to the discovery of the vulnerability.
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Source: https://blockworks.co/news/balancer-exploit-vulnerability