Balancer (BAL) Pools Lose Over $200 Million Due to Critical Vulnerability

By Daisy Hodley Aug 24, 202359Views

The Daily Hodl: Over $200,000,000 Withdrawn From Balancer (BAL) Pools After Project Announces ‘Critical Vulnerability’

The total value locked (TVL) on Balancer (BAL) decreased by more than $200 million in just 24 hours after the DeFi protocol advised users to withdraw their funds as a precautionary measure. The Balancer team discovered a critical vulnerability in several liquidity pools (LPs) and urged affected users to withdraw their funds immediately. While only 1.4% of the TVL was at risk, Balancer paused some pools and requested users to migrate to safer pools or withdraw their funds. Following the announcement, TVL on Balancer dropped from $840 million to $630 million. However, Balancer has managed to secure the majority of the funds, with the TVL now standing at nearly $669 million. Only 0.89% of the total TVL ($5.6 million) remains at risk, and users are advised to withdraw as soon as possible.

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Daisy Hodley

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