Balancer Audits Under Scrutiny After $100M+ Exploit Drains Staked Ether
Balancer Audits Under Scrutiny After $100M+ Exploit Drains Staked Ether
Security audits conducted on Balancer's smart contracts are facing intense scrutiny after a recent exploit led to the draining of millions in staked Ether. Despite 11 audits by four security firms since 2021, a bad actor successfully compromised the protocol.
Reports showed four security companies conducted 11 audits of Balancer’s smart contracts starting in 2021, but a bad actor was still able to drain millions in staked Ether.