Balancer admits hacking incident…"Investigation into damages underway"

Son Min

Summary

Balancer officially acknowledged the hacking incident.
It said that engineering and security teams are currently investigating the damage.
The damage is estimated to exceed $100 million.

Balancer (BAL), the decentralized finance (DeFi) protocol that suffered a hacking incident, issued an official statement.

On the 3rd (local time), Balancer said via its official X (formerly Twitter), "We are aware of the hack that occurred in the Balancer V2 pool," and "Engineering and security teams are currently investigating." It added, "We will share information as it becomes available."

Earlier, Balancer reported that approximately $70.9 million worth of staked Ethereum (ETH) was moved to a newly created wallet, raising the possibility of a hack. The damage is estimated to exceed $100 million.

Son Min

sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit

Balancer admits hacking incident…"Investigation into damages underway"

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