BREAKING: Balancer (BAL) Reports Vulnerability Found in Some V2 Pools, All Users Warned to Withdraw Their LPs

Balancer developers announced that some of their V2 pools were affected by a critical vulnerability that could put users’ funds at risk.

The team has taken emergency measures to secure most of the funds, but some pools remain vulnerable and users are advised to withdraw their liquidity as soon as possible.

According to a forum post by Balancer Labs, the vulnerability was reported by an outside security researcher.

Balancer has received a critical vulnerability report affecting a number of V2 Pools.

Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk.

Users are advised to withdraw affected LPs immediately.https://t.co/PDzX32gqeS pic.twitter.com/F1f649Wz3L

— Balancer (@Balancer) August 22, 2023

According to the forum post, this vulnerability was not exploited and no funds were lost.

The developers said that a post-mortem report will be released soon, detailing the vulnerability and how it was handled.

Update:

A new statement came from Balancer on the subject. The platform said in its statement just now:

“The majority of funds in Balancer are safe. Only 1.4% of the total locked value (TVL) is at risk and only boost pools are affected.

Several pools have been discontinued and will remain so to mitigate risks, we advise users to withdraw liquidity as soon as possible.”

*Not investment advice.