Recently, the Balancer (BAL) team announced that the protocol has detected a vulnerability in V2 pools. Altcoin price dropped after the hack announcement.
Balancer (BAL) price shaken by hack news
According to the official announcement, Balancer’s V2 pools are at risk. The project team reported that they were aware of the vulnerability and announced that it had taken urgent action to protect the funds. Altcoin investors are advised to withdraw funds currently in V2 pools as soon as possible. While the Balancer team is working hard, V2 pools remain vulnerable. According to the official announcement:
Balancer has received a report of a critical vulnerability affecting several V2 Pools. Emergency mitigation procedures were implemented to secure the majority of TVL, but some funds remain at risk. Users are advised to immediately withdraw affected LPs.
Balancer has received a critical vulnerability report affecting a number of V2 Pools.
Emergency mitigation procedures have been executed to secure a majority of TVL, but some funds remain at risk.
Users are advised to withdraw affected LPs immediately.https://t.co/PDzX32gqeS pic.twitter.com/F1f649Wz3L
— Balancer (@Balancer) August 22, 2023
BAL price lost 2.5% within minutes after the announcement. It continues to maintain its sharp downtrend on the hourly chart.
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