Phalcon identifies the root cause of the Balancer hack, now up to 120M drained
𝕏/@phalcon_xyz •
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Promote with Leviathan NewsHacks are fucked for eveyrone involved...but this, " Due to rounding down when scaling token amounts, the computed Δx becomes slightly smaller (8.918 to 8), leading to an underestimated Δy and thus a smaller invariant (D from Curve’s StableSwap model). Since BPT price = D / totalSupply, the BPT price becomes artificially deflated.", reminds me of Office Space, RIP
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More coverage
- Balancer Exploit Explained: What Went Wrong and Why v3 Is Safe (certora.com)
- Balancer v2 Exploit: Preliminary Incident Report (x.com)
- How an Attacker Drained $128M from Balancer Through Rounding ... (research.checkpoint.com)
- Balancer's $128M Exploit: $8M Recovery Plan and KYC ... - OpenExO (openexo.com)
- Understanding the Balancer v2 Exploit - OpenZeppelin (openzeppelin.com)
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