Balancer Reported ‘Critical Vulnerability’ Affecting its V2 Pools

A vulnerability in Balancer smart contract could have put protocol in menace if it was exposed to attackers.
Balancer Reported 'Critical Vulnerability' Affecting its V2 Pools

The innovative decentralized exchange, Balancer has received a report of critical vulnerability which affects its number of V2 pools.

The team shared a post on X, citing that emergency mitigation procedures have been executed following the vulnerability disclosure. 

A post in Balancer’’s forum claims that this vulnerability has not been exploited and no funds have been lost from the protocol. Although the majority of TVL is secured, a 4% funds in protocol is still exposed to the risk.

The post further says that funds in mitigated pools are safe while pools that could not be mitigated are labeled as ‘at risk’. “If you are an LP in any of these pools, please exit immediately,” it said.

As the DeFi is fragile with several protocols being exploited within no time, Balancer has come out of severe risk with its unnoticed vulnerability. 

In an update, Balancer team noted that, “Only 1.4% of the total TVL is at risk, and only boosted pools are affected.” While several V2 pools are paused to mitigate risks and will remain so, the team advised users to withdraw liquidity as soon as possible.

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