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Balancer Proposes $8M Refund to Users Following $128M DeFi Exploit
Balancer Proposes $8M Refund to Users Following $128M DeFi Exploit
22
3
BTCCSquare news:
Balancer, a decentralized finance protocol, has outlined a plan to reimburse liquidity providers with nearly $8 million in recovered assets after a significant exploit in early November. The attack targeted Balancer V2 Composable Stable Pools, leveraging a vulnerability that resulted in the theft of approximately $128.6 million.
The refund initiative underscores the protocol's commitment to user protection amid growing security challenges in the DeFi sector. While the recovered amount represents a fraction of the total losses, the MOVE aims to restore confidence among affected participants.
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