StakeWise Recovers $21M in Balancer Hack Funds— Can This Boost ETH Price?
StakeWise recovered $21 million in tokens stolen in the Balancer V2 hack, potentially boosting Ethereum's price recovery.Summary
Ethereum staking protocol StakeWise successfully recovered $21 million worth of osETH ($19 million) and osGNO ($1.7 million) tokens stolen during the recent Balancer V2 hack, which targeted ETH-related liquidity tokens and resulted in total losses exceeding $120 million. StakeWise confirmed that 73.5% of stolen osETH and 100% of osGNO were recovered via an emergency multisig transaction, with plans to return the funds to victims. The exploit primarily affected Balancer V2 "stable" pools across various chains, though StakeWise's core smart contracts and its osETH token remained secure, as its main liquidity pool used the immune Balancer V3 version. The recovery has generated optimism that it will accelerate the recovery of Ethereum's price, which dropped over 8% following the exploit, as the risk of a large token dump has diminished.
(Source：BeInCrypto)