Verify a decision

{"actor":"system:backfill","investigation_id":"9c5049cc-896e-45f8-a737-0da7edafe4df","kind":"publish","page_slug":"balancer-v2","published_at":"2026-05-20T18:22:01.484Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Balancer V2","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://medium.com/balancer-protocol/the-most-flexible-and-efficient-amm-is-live-meet-balancer-v2-2451a22779b3"},{"credibility":3,"name":"","type":"other","url":"https://docs-v2.balancer.fi/concepts/governance/bal-token.html"},{"credibility":3,"name":"","type":"other","url":"https://immunefi.com/bug-bounty/balancer/"},{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/tech/2026/03/24/balancer-labs-will-shut-down-as-corporate-entity-became-a-liability-after-usd110-million-exploit"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://blog.1inch.io/balancer-hack-2020/"},{"credibility":3,"name":"","type":"other","url":"https://medium.com/balancer-protocol/incident-with-non-standard-erc20-deflationary-tokens-95a0f6d46dea"},{"credibility":3,"name":"","type":"other","url":"https://decrypt.co/154002/balancer-suffers-nearly-1m-exploit-team-urges-users-withdraw-funds"},{"credibility":3,"name":"","type":"other","url":"https://www.web3isgoinggreat.com/?id=balancer-exploit"},{"credibility":3,"name":"","type":"other","url":"https://slowmist.medium.com/review-and-recommendations-of-balancer-incident-d2b31b5bd863"},{"credibility":3,"name":"","type":"other","url":"https://www.certora.com/blog/breaking-down-the-balancer-hack"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-balancer-hack-november-2025"},{"credibility":3,"name":"","type":"other","url":"https://research.checkpoint.com/2025/how-an-attacker-drained-128m-from-balancer-through-rounding-error-exploitation/"},{"credibility":3,"name":"","type":"other","url":"https://immunefi.com/blog/expert-insights/how-fragmented-security-enabled-balancer-exploit/"},{"credibility":3,"name":"","type":"other","url":"https://www.dlnews.com/articles/defi/balancer-suffers-128m-exploit-despite-multiple-audits/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://defillama.com/protocol/balancer-v2"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/explained-the-balancer-hack-november-2025"},{"credibility":3,"name":"","type":"other","url":"https://research.checkpoint.com/2025/how-an-attacker-drained-128m-from-balancer-through-rounding-error-exploitation/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/tech/2026/03/24/balancer-labs-will-shut-down-as-corporate-entity-became-a-liability-after-usd110-million-exploit"},{"credibility":3,"name":"","type":"other","url":"https://cryptonews.com/news/balancer-labs-shut-down-exploit/"},{"credibility":3,"name":"","type":"other","url":"https://unchainedcrypto.com/balancer-labs-shuts-down-its-corporate-entity-after-128-million-exploit-unchained/"},{"credibility":3,"name":"","type":"other","url":"https://docs-v2.balancer.fi/reference/contracts/security.html"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.dlnews.com/articles/defi/balancer-suffers-128m-exploit-despite-multiple-audits/"},{"credibility":3,"name":"","type":"other","url":"https://immunefi.com/blog/expert-insights/how-fragmented-security-enabled-balancer-exploit/"},{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/tech/2026/03/24/balancer-labs-will-shut-down-as-corporate-entity-became-a-liability-after-usd110-million-exploit"},{"credibility":3,"name":"","type":"other","url":"https://www.certora.com/blog/breaking-down-the-balancer-hack"}]}],"sources_used":[],"summary":"Balancer V2 is a decentralized automated market maker (AMM) protocol launched in 2021 on Ethereum and multiple chains that separates AMM logic from token custody via a central Vault architecture. The protocol has experienced at least four documented security incidents across its V1 and V2 deployments, including a November 2025 exploit that drained approximately $128 million and directly led to the dissolution of Balancer Labs, the corporate entity behind the protocol, announced in March 2026.","timeline":[{"date":"2020-06-29","event":"Balancer V1 exploited via STA deflationary token flash loan attack; over $500,000 stolen. Prior bug report allegedly ignored.","source":""},{"date":"2021-05-01","event":"Balancer V2 officially launched on Ethereum mainnet with new centralized Vault architecture.","source":""},{"date":"2022-05-01","event":"Balancer launches bug bounty program on Immunefi with up to $1,000,000 maximum payout.","source":""},{"date":"2022-08-01","event":"Rounding vulnerability exploited in V2 composable stable pools for approximately $108,843.","source":""},{"date":"2022-10-10","event":"Balancer and Certora launch the Balancer Certora Security Accelerator for projects building on the protocol.","source":""},{"date":"2023-08-22","event":"Balancer publicly discloses critical vulnerability in V2 boosted pools across eight blockchains; LPs urged to withdraw.","source":""},{"date":"2023-08-25","event":"Balancer states 99.7% of at-risk liquidity secured; approximately $565,199 remains at risk.","source":""},{"date":"2023-08-27","event":"Attackers exploit the disclosed vulnerability via flash loans, stealing approximately $979,000 in DAI from Balancer V2 boosted pools.","source":""},{"date":"2025-11-03","event":"Critical exploit drains approximately $128 million from Balancer V2 Composable Stable Pools across six chains in under 30 minutes via manageUserBalance access control flaw and rounding error. Attacker funded via Tornado Cash.","source":""},{"date":"2026-03-23","event":"Co-founder Fernando Martinelli posts governance announcement proposing dissolution of Balancer Labs corporate entity; essential staff to transition to Balancer OpCo.","source":""},{"date":"2026-03-24","event":"Balancer Labs shutdown announcement covered by CoinDesk and major crypto outlets; TVL reported at $157 million, down 95% from 2021 peak of $3.5 billion.","source":""}]},"v":1}