Balancer Hit by Smart Contract Exploit, $116M Vulnerability Revealed

During the past three months, Balancer, the second most popular and high-profile cryptocurrency in the decentralized finance ecosystem has been subjected to a number of high-profile attacks from sweeping cross-chain exploits that have rapidly emerged to be one of the most significant cryptocurrency breaches over the past year. 

The results of early blockchain forensic analysis suggest losses of $100 million to $128 million, and the value of assets that have now been compromised across multiple networks has risen to $116 million, according to initial assessments circulated by independent researchers. In particular, @RoundtableSpace shared data with us on the X platform. In addition to disrupting the Ethereum mainnet as well as several prominent layer-2 networks, the incident also caused liquidity pools on Ethereum’s mainnet to be disrupted. 

Almost immediately after the attack, Balancer’s team recognized it and began a quick investigation into the attack, working closely with the leading blockchain security firms to contain the damage and determine the scope of the problem. It has sent ripples throughout the DeFi community, raising fresh concerns about the protocol’s resilience as attackers continue to exploit complex multi-chain infrastructures to steal data. 

In light of the breach, investigators have since determined that it is a result

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