The Balancer Protocol experienced a significant security breach targeting its V2 pools, resulting in over $128 million in losses. The incident involved a precision rounding error and possibly improper authorization, raising concerns within the DeFi community. #Balancer #Ethereum #DeFiHack
Keypoints
- The attack specifically affected Balancer’s V2 Compostable Stable Pools, not other versions.
- The exploit was due to a rounding error in the Vault’s swap calculations, which was exploited through chained swaps.
- There are allegations that improper authorization and callback handling also played roles in the breach.
- Balancer has not yet disclosed all details but is working with security researchers for a full investigation.
- A suspicious phishing attempt appeared, offering a bounty to the hacker while threatening legal action.