Balancer Discovers Critical Vulnerability in V2 Pools
Balancer has identified a major vulnerability that has impacted a number of V2 Pools in its ecosystem. The Balancer team has taken proactive measures to secure the Total Value Locked (TVL) but there are still funds at risk.
Key Points:
- Several pools, including Mainnet, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom, and zkEVM, have been paused to minimize potential hazards.
- Users holding liquidity in these affected Liquidity Pools (LPs) are advised to withdraw their funds promptly.
- The Balancer UI provides more information on this issue.
- A majority of funds within the Balancer ecosystem are confirmed as secure and only 1.4% of the TVL is at risk.
- Balancer has successfully mitigated over 80% of compromised pools, but approximately 4% of TVL remains vulnerable.
Balancer Urges Users to Take Action
Balancer believes that the mitigated pools have maintained the security of funds, but users are strongly encouraged to transition to safer pools or initiate withdrawals. Pools that have not been successfully mitigated are considered “at risk,” and users in these pools should conduct immediate withdrawals to protect their investments.
Personalized UI and Complete List of Affected Pools
Balancer has introduced a personalized interface (UI 518) for users to check if their connected wallet is linked to the affected pools. A comprehensive report on the vulnerability and the steps taken will be released soon. The complete list of affected pools can be found in the comments section of the Balancer forum post.
Hot Take:
Balancer’s swift response to the critical vulnerability demonstrates their commitment to the security of user funds. While there is still a small percentage of TVL at risk, the majority of funds have been secured. Users should take immediate action by either transitioning to safer pools or withdrawing their funds to protect their investments. Balancer’s transparent approach, with the release of a personalized UI and a forthcoming report, ensures that affected users stay informed throughout the process.
By
By
By
By
By