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Balancer V2 Suffers $128M Data Breach Due to Smart Contract Flaw

Cyber Security News by CyberSum.net
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Balancer V2, a prominent automated market maker, experienced a significant data breach due to a vulnerability in its smart contract infrastructure. The flaw allowed an attacker to siphon $128 million worth of digital assets. The breach stemmed from a faulty check in the manageUserBalance function, enabling unauthorized fund transfers. Despite multiple audits, the exploit occurred, highlighting the challenges in securing composable DeFi systems. Users are urged to withdraw funds from affected pools and revoke smart contract approvals.

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By Cyber Security News by CyberSum.net