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Ethereum automated market maker and decentralized finance protocol Balancer warned that $2.8 million, or 0.42% of its total value locked (TVL), remains at risk following the discovery of a vulnerability on Aug. 22.<\/p>\n
According to the Aug. 24 announcement, users are asked to \u201cwithdraw ASAP\u201d if they have connected wallets to affected liquidity provider (LP) pools. A personal user interface was established via the protocol\u2019s website to determine if user funds were at risk. The site then suggests users unstake, withdraw and unwrap the affected tokens.<\/p>\n
Selected at-risk assets include those on Balancer\u2019s deployment on Ethereum, Polygon, Arbitrum, Optimism, Avalanche, Gnosis, Fantom and zkEVM.<\/p>\n
On the day of discovery, Balancer said 4% of its $669 million in TVL was affected after developers mitigated 80% of the critical vulnerability. In an Aug. 23 update, Balancer\u00a0said<\/a> that the vulnerability had not been exploited, but at the time, $5.6 million worth of funds remained at risk. Developers stated<\/a>:\u00a0<\/p>\n \u201cWe believe funds in the mitigated pools (labeled \u201cmitigated\u201d) are safe, but nevertheless strongly recommend timely migration to safe pools, or withdrawal. Pools that could not be mitigated are labeled \u2019at risk’. If you are an LP in any of these pools, please exit immediately.”<\/p><\/blockquote>\n Cointelegraph reported on June 2 that Balancer had launched<\/a> on Ethereum layer-2 network Optimism. Balancer Labs CEO Fernando Martinelli said the Optimism deployment reflects his belief that layer-2 scaling solutions will be effective in reducing transaction fees and network congestion. At the time, there were a total of 38 projects building on the Optimism network.<\/p>\n Over 98.7% of liquidity initially deemed vulnerable is now SAFE. <\/p>\n As of writing, the vulnerability has not been exploited.<\/p>\n However, 0.42% of total TVL ($2.8 million) remains at risk, with users advised to withdraw ASAP using the UI.https:\/\/t.co\/PDzX32fSpk<\/a> pic.twitter.com\/0eLGQ7peoR<\/a><\/p>\n \u2014 Balancer (@Balancer) August 24, 2023<\/a><\/p><\/blockquote>\n Magazine:\u00a0Recursive inscriptions: Bitcoin \u2018supercomputer\u2019 and BTC DeFi coming soon<\/a><\/em><\/strong><\/p>\n<\/div>\n\n