Balancer audits under scrutiny after $100M+ exploit
Balancer faces scrutiny after an exploit drained over $100 million from its V2 Composable Stable Pools, despite numerous prior security audits.Summary
Decentralized exchange Balancer suffered an exploit resulting in the theft of over $100 million in staked Ether from its V2 Composable Stable Pools, prompting questions about the effectiveness of its security measures. Balancer confirmed the incident was isolated and highlighted that the platform had undergone 11 audits by four top security firms—OpenZeppelin, Trail of Bits, Certora, and ABDK—since 2021, with the most recent stable pool audit in September 2022. Developers noted that the frequency of audits did not prevent the hack, suggesting that "audited by X" means very little in the DeFi space. The stolen assets included OSETH, WETH, and wSTETH. Balancer offered the attacker a 20% white hat bounty for returning the funds within 48 hours, warning that failure to cooperate would result in engagement with blockchain forensics specialists and law enforcement.
(Source：Cointelegraph)