Berachain Recovers $12.8M Lost in Balancer Hack, Resumes Operations
Berachain, an Ethereum-compatible Layer 1 blockchain, has achieved a rare full recovery of approximately $12.8 million lost in the recent Balancer exploit. The funds were returned to the Berachain Foundation's deployer wallet, marking a significant restitution in DeFi history.
The recovery followed a massive hack that drained over $117 million across multiple blockchains. A white-hat hacker collaborated with the foundation to facilitate the return of the assets, prompting consideration of a bounty reward for their ethical efforts.
Operations on Berachain's Core network, including HONEY minting and redemption, have resumed after a temporary pause on swaps, deposits, and withdrawals. The swift action mitigated further damage, showcasing the network's crisis management capabilities.
