Search result of BEETS

A $120 million exploit affected Balancer V2. The vulnerability impacted multiple chains, including Ethereum, Arbitrum, and Berachain, and resulted in cascading consequences. Due to its shared architecture, Berachain initiated an emergency full-chain shutdown and now plans to implement a hard fork. This event underscores the systemic risks DeFi protocols face regarding precise computation and maintenance of protocol invariants. In addition to systemic risks, it also highlights the governance dilemmas decentralized projects face when responding to crises: This event raises critical questions about balancing security and decentralization.

The article offers an in-depth account of the attack's technical approach and execution, examines the repercussions across various blockchain networks, and reviews the mitigation strategies implemented by projects like Balancer and Berachain.