Well, butter my blockchain, folks! The wizards behind the decentralized finance (DeFi) protocol Balancer have finally spilled the tea-er, published a preliminary post-mortem report-on Wednesday, detailing the jaw-dropping exploit that made $116 million disappear faster than a British summer. 🌧️💨
Apparently, Balancer got hit by a code exploit so sophisticated, it makes the plot of Ocean’s Eleven look like a kindergarten play. This digital heist, which went down on Monday, targeted Balancer v2 Stable Pools and Composable Stable v5 pools, leaving the rest of the pools as clueless bystanders. 🏊♂️🤷♂️
The hacker-who must’ve been sipping a latte while coding this masterpiece-used a combo of BatchSwaps (because why do one thing when you can do many?) and flashloans (the financial equivalent of a magic trick). But the real star of the show? An exploit of the upscale rounding function, which turned EXACT_OUT swaps into a hacker’s ATM. 🤑💳
Now, the rounding function is supposed to round down when token prices are an input. But this hacker? They rounded up their mischief and, with the help of BatchSwap, drained funds like a vampire at a blood bank. The team’s take?
“In many instances, the exploited funds remained within the Vault as internal balances before being withdrawn in subsequent transactions.”
Translation: The money took a little vacation before packing its bags. 🧳✈️
This whole fiasco is a neon-flashing reminder that hot wallets, liquidity pools, and onchain funds are basically wearing a sign that says, “Hack me, I’m vulnerable!” So, crypto users and blockchain developers, buckle up and keep those funds safer than a Brit’s tea stash. 🛡️☕
Balancer Fights Back with Crypto Avengers Assemble 🦸♂️🦸♀️
The hackers? Likely a bunch of Bond villains who spent months prepping for this heist, using Tornado Cash deposits to fund their attack without raising eyebrows. Stealthy, but not stealthy enough, apparently. 🕶️🌀
Balancer didn’t take this lying down, though. They teamed up with cybersecurity partners and crypto protocols to claw back some of the loot, including 5,041 StakeWise Staked ETH (osETH) worth $19 million and 13,495 osGNO tokens worth up to $2 million. Take that, you digital scoundrels! 💪💰
In the meantime, Balancer has paused all affected pools and put a stop to creating new “vulnerable” pools until they patch up this digital Band-Aid. Better safe than sorry, right? 🚫🩹
Oh, and Balancer even offered a 20% white hat bounty to anyone who could return the funds. But as of now, crickets. Guess the hacker’s too busy counting their ill-gotten gains. 🦗💸
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2025-11-05 23:28