Significant Discrepancy in Loss Estimates on Balancer Platform: PeckShield Report
Blockchain security firm PeckShield Inc. has discovered a significant discrepancy in the initial loss estimates related to the Balancer ($BAL) platform. Here are the key points:
- The loss involving Beethoven X is now believed to be greater than $2.1 million.
- Multiple pools across platforms like Ethereum, Fantom Foundation, and Optimism Foundation are affected.
- The Balancer team had initially estimated that only 0.08% of total TVL ($565,199) remained at risk.
- However, PeckShield’s analysis shows that this figure was seriously miscalculated.
- Balancer acknowledged an exploit linked to a specific vulnerability and urged users to withdraw from impacted liquidity pools.
The current location of the stolen funds is still unknown. PeckShield Inc. is a renowned blockchain security and data analytics company, while Balancer is a platform that allows users to create or add liquidity to customizable pools and earn trading fees.
Hot Take:
This incident highlights the importance of thorough security assessments and constant vigilance in the crypto space. It serves as a reminder for both platforms and users to remain cautious and take appropriate measures to protect their assets.
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