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News

Balancer’s 0.42% TVL Remains Vulnerable, Act Promptly!

August 24, 2023 - Around 2 mins mins to read

Key Points:

  • Balancer’s X platform reports 98.7% of initially at-risk funds now safe.
  • Recent progress: Over 97% risk mitigated, 0.89% TVL still at risk.
  • Users advised to act swiftly to withdraw remaining funds for security.
The renowned liquidity protocol Balancer has made a crucial update on its X platform.
balancers-0-42-tvl-remains-vulnerable-act-promptly

The announcement reveals a substantial achievement, with over 98.7% of the initially at-risk funds now secured. This milestone comes as a relief to users who had their investments hanging in the balance.

Just yesterday, Balancer had reported a significant stride in risk mitigation. More than 97% of the potential vulnerabilities were successfully addressed, bolstering the overall security of the platform. However, the latest update indicates that a fraction, precisely 0.89%, of the total TVL (Total Value Locked) remains in the risk zone.

The call for users to withdraw their funds as swiftly as possible underscores the proactive approach Balancer is taking to safeguard its users’ investments. By emphasizing the urgency of this action, the platform aims to minimize any potential exposure to risk and ensure the continued confidence of its user base.

Balancer’s commitment to transparency and user protection shines through in these updates. The continuous efforts to mitigate risk and secure assets demonstrate the platform’s dedication to fostering a secure DeFi ecosystem. The shift from a higher initial risk percentage to the current 0.89% showcases the progress made in a relatively short span.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Balancer

TVL Remains Vulnerable

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Balancer’s 0.42% TVL Remains Vulnerable, Act Promptly!

Key Points:

  • Balancer’s X platform reports 98.7% of initially at-risk funds now safe.
  • Recent progress: Over 97% risk mitigated, 0.89% TVL still at risk.
  • Users advised to act swiftly to withdraw remaining funds for security.
The renowned liquidity protocol Balancer has made a crucial update on its X platform.
balancers-0-42-tvl-remains-vulnerable-act-promptly

The announcement reveals a substantial achievement, with over 98.7% of the initially at-risk funds now secured. This milestone comes as a relief to users who had their investments hanging in the balance.

Just yesterday, Balancer had reported a significant stride in risk mitigation. More than 97% of the potential vulnerabilities were successfully addressed, bolstering the overall security of the platform. However, the latest update indicates that a fraction, precisely 0.89%, of the total TVL (Total Value Locked) remains in the risk zone.

The call for users to withdraw their funds as swiftly as possible underscores the proactive approach Balancer is taking to safeguard its users’ investments. By emphasizing the urgency of this action, the platform aims to minimize any potential exposure to risk and ensure the continued confidence of its user base.

Balancer’s commitment to transparency and user protection shines through in these updates. The continuous efforts to mitigate risk and secure assets demonstrate the platform’s dedication to fostering a secure DeFi ecosystem. The shift from a higher initial risk percentage to the current 0.89% showcases the progress made in a relatively short span.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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