Ethereum automated market maker and decentralized finance protocol Balancer confirmed on X (formerly Twitter) on August 27 that it had been mined for nearly $900,000, just days after the disclosure. a vulnerability affecting several pools.
An Ethereum address believed to belong to the attacker has been revealed by blockchain security expert Meier Dolev. After mining, the address received two Dai transfers worth $636,812 and $257,527 respectively, bringing its total balance to over $893,978.
The balancer posted on X, adding that although the mitigation measures implemented in recent days have significantly reduced the risk, the affected pools cannot be halted.
Balancer first disclosed a critical vulnerability affecting its enhanced pools on August 22, urging users to withdraw funds from LP (LPs) and suspend pools to reduce minimize potential damage. At risk are assets deployed on Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom , and zkEVM.
On the day the vulnerability was discovered, only 1.4% of its total assets were at risk, or more than $5 million. On August 24, at least $2.8 million — 0.42% of the total value locked up — remained at risk.
This protocol was implemented on the Optimism network last June, in order to enhance user functionality and reduce fees.
Source: Cointelegraph
