August 22, 2023

Balancer Executes Emergency Procedures after Critical Vulnerability Report. 4% of TVL is Impacted.

by Danil Myakin

Published: August 22, 2023 at 1:40 pm Updated: August 22, 2023 at 3:30 pm

by Danil Myakin

Edited and fact-checked: August 22, 2023 at 3:30 pm

Balancer’s official X account posted an announcement urging users to withdraw funds from all the affected LPs immediately due to the critical vulnerability.

Balancer has received a critical vulnerability report affecting a number of V2 Pools.

Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk.

Users are advised to withdraw affected LPs immediately.https://t.co/PDzX32gqeS pic.twitter.com/F1f649Wz3L
— Balancer (@Balancer) August 22, 2023

The Balancer team quickly updated the UI to inform users if they hold liquidity within affected LPs with step-by-step withdrawal instructions.

We believe funds in the mitigated pools (labeled “mitigated”) are safe, but nevertheless strongly recommend timely migration to safe pools, or withdrawal. Pools that could not be mitigated are labeled “at risk”. If you are an LP in any of these pools, please exit immediately.
Stated in the announcement

The article will be updated after the Post-mortem will be published by the Balancer team. Read more in our update.

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