The blocmates Podcast Tuesday, Nov 4, A-Z of the $128 Million Balancer Exploit
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Nov 4, 2025 The podcast delves into the staggering $128 million exploit affecting Balancer's V2 stable pools. It highlights the emergency responses from various protocols to combat the fallout. Stream Finance faces a $93 million loss and investigates halted withdrawals, raising contagion concerns for stablecoin vaults. Additionally, the Canton Network is set to launch its mainnet with an impressive $540 million treasury raise. The discussion also includes Michael Saylor's new euro dividend product and Animoca Brands' upcoming Nasdaq listing.
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Balancer V2 Validation Flaw
- Balancer V2 experienced a large exploit likely tied to a flawed smart-contract validation affecting V2 forks.
- The attack drained roughly $128M, mostly ETH derivative tokens, and impacted multiple chains and forks.
Pause And Coordinate During Exploits
- Protocol teams should pause vulnerable functionality and coordinate with security researchers immediately.
- Several teams halted withdrawals and blacklisted addresses to limit the exploit's spread.
Bearer Chain Emergency Hard Fork
- Bearer Chain validators coordinated an emergency hard fork and halted the network to stop the exploit.
- That emergency action prevented further draining and shows chains can take drastic steps to protect funds.