Balancer Was Exploited For 900k

A hacker took $893,978 worth of Dai stablecoin on Balancer. Balancer is an automated market maker (AMM) that allows users to create liquidity pools with up to eight different tokens in any ratio. Users can swap cryptocurrencies on Balancer. The exploit happened on Balancer V2 pools.

Balancer informed users of its vulnerability on V.2 pools on August 22, 2023. It urged users to withdraw assets from those pools.

Balancer’s TVL has decreased from $852.44 million on August 21 to $678.6 million on August 28.

Balancer is 135 largest crypto by market cap. It has $333 million fully diluted market cap.