The post Balancer Contains Exploit Impacting Composable Stable Pool appeared com. Key Points: Balancer V2 exploit isolated, Composable Stable Pools only. 73. 5% of osETH tokens recovered promptly. Cooperation with security partners aided swift containment. On November 4th, Balancer’s V2 Composable Stable Pool experienced an exploit affecting multiple blockchain networks, including Ethereum, BSC, and Polygon, due to a rounding error in transaction logic. This incident underscores vulnerabilities in decentralized finance protocols, highlighting urgent security challenges and market volatility within the sector. Balancer’s Swift Action Recovers 73. 5% of Tokens Balancer’s response to the November 4th exploit was swift and decisive. The Composable Stable Pool of Balancer V2 was attacked due to a rounding error in the EXACT_OUT transaction logic during batchSwap processes. The team worked alongside security partners and white-hat groups to contain the attack effectively. Immediate actions included automatic pool pausing and asset freezing through collaborative security measures. “Our team is working with leading security researchers to understand the issue and will share additional findings and a full post-mortem as soon as possible. Any pools that could be paused have been paused and are now in recovery mode.” Fernando Martinelli, CEO, Balancer Labs Community reaction was focused on resilience and trust in Balancer’s management. The Balancer team reiterated the security of other pools, ensuring transparency and trust. Official statements confirmed the attack’s isolated nature and assured users of ongoing security evaluations. More insights on these updates can be found in the Balancer project’s significant market changes. DeFi Faces Ongoing Risks from Precision Errors Did you know? In past incidents, such as the Euler Finance exploit of March 2023, which led to $200 million losses, DeFi protocols have faced severe financial impacts from precision errors, underscoring the need for rigorous mathematical verification. StakeWise Staked ETH (osETH) currently trades at $3,580. 53 with a market cap of $698,236,971. Its 24-hour trading volume is $379. 33,.
