Balancer has discovered a critical vulnerability that has affected a number of V2 Pools within its ecosystem. 

At exactly 3:52 PM UST, the Balancer team notified its community about a very real threat to their funds. Although the team managed to secure much of the Total Value Locked (TVL), there are still funds at risk.

Balancer has paused several pools to reduce any potential hazards as a proactive measure. These pauses will continue until further notice. Users holding liquidity within these affected Liquidity Pools (LPs) are advised to execute their withdrawal strategies without delay. The pools include Mainnet, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom, and zkEVM.

More Information Is Available on Balancer’s UI

Two hours later, Balancer released an update offering good news. The vast majority of funds within the Balancer ecosystem have been confirmed as secure.

Furthermore, the vulnerability only poses a risk to 1.4% of the total TVL. This is limited to the boosted pools exclusively.

The Balancer user interface (UI) will help share important information with all affected users about this problem.

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Author: Josh Adams

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