Balancer BAL

What's going on?

etherscan.io/tx/0x013be97768b702fe8eccef1a40544d5ecb3c1961ad5f87fee4d16fdc08c78106

Attached: bal.png (225x225, 1.74K)

Everyone's talking about sueing them.

Balancer pool doesn’t work with deflationary coins, creating a coin that relies on balancer was a mistake. Hacker exploited flash loans to arb all the sta away and take all the liquidity out

>Hacker
It was the devs. Happens in crypto all the time

>Balancer pool doesn’t work with deflationary coins, creating a coin that relies on balancer was a mistake. Hacker exploited flash loans to arb all the sta away and take all the liquidity out
i knew this weeks ago. sucks to pajeets huh?

How much was hacked? Are all pools vulnerable to the exploit?

For what?

Only pools that include a deflationary coin are at risk. The guy made off with 500k usd equivalent

It's a flaw with STA, not balancer

I will never financially recover from this. How do you buy a gun on the black market?

If someone stole $500k from a balancer pool, that's a flaw with balancer.

It’s not a flaw with sta either. It’s a flaw with how deflationary coins interact with balancer. Any deflationary coin could be exploited like this on balancer

Incorrect. It’s an issue Deflationary tokens and balancer. Which fucking sucks because I actually really supported STA in theory. I only held 20K of them and haven’t really lost much. But fucking hell thats the end of that project.

you dont need a gun to kill yourself, just jump off a building

>Incorrect. It’s an issue Deflationary tokens and balancer. Which fucking sucks because I actually really supported STA in theory. I only held 20K of them and haven’t really lost much. But fucking hell thats the end of that project.
bro i told you it was flawed weeks ago

Balancer is finished.

Why hasn’t Balancer announced something publicly? Where’s the transparency? STA has announced and says it’s an exploit in BAL pools.

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It’s on their discord. It involves the deflationary aspect of the token not working well with balancer. Someone posted a screenshot in the other threads

The balancer team are the hackers.

>It involves the deflationary aspect of the token not working well with balancer

I DONT KNOW WHAT THIS MEANS

Why do you think that? Seems kind of self-defeating.

Deflection? Seems like Balancer is definitely to blame here.

(Check'd)
These trips confirm. Do not put deflationary tokens into balancer. This is why I, YOUR TYRANT, did not add CID to a balancer pool.
It means that balancer does not currently work properly with deflationary tokens, and someone exploited the flaw to scrape out the eth from the system.

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Not at all
Deflationary tokens don’t make sense with smart contracts since they send more tokens than they receive. This confounds some aspect of the balancer smart contract and so flash loans were used to exploit this interaction. There is an explanation screenshot somewhere

Look, the balancer expects to receive 100 tokens when 100 tokens are sent to it. If the token is deflationary, it receives less than the 100. This in turn fucks up it's proportions in the pool. If you kick it all the way down and then withdraw the last of that token, you essentially pull out the whole pool.

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So basically, Balancer is flawed?

it's the other way around, they send less than they receive

Yeah whoops, sorry

No, deflationary tokens themselves are flawed interacting with smart contracts. Just happens that the guy targeted sta because of the big liq. It can happen to any deflationary token in balancer.

(check'd)
Is it finished? It says beta. They could probably fix this bug by changing the order of the processes in their code that determines the pool proportions.
(check'd)
As a boon to those who were demolished in the great balancer collapse of 2020, your Tyrant declares this to be a CID AIRDROP THREAD!
Drop your wallets, let's recover those losses for you.
contract below to allow confirmation.
0x4599836c212CD988EAccc54C820Ee9261cdaAC71

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