StakeWise Don Recover $19M osETH, Cut Down Balancer Hack Loss to $98M
For November 3, one callback yawa for Balancer V2 Composable Stable Pools manageUserBalance function e jaga, wey dem comot about 6,851 osETH (wey more than $25 million) and 13,495 osGNO sharp sharp. The pipo wey do am konvert more than half the beta dem commot into ETH. After Balancer hack, StakeWise DAO emergency multisig recover 5,041 osETH (~$19.3 million), e reduce how much money dem lose from $117 million go $98 million and dem collect back 73.5% of the osETH wey thief commot; the remaining 26.5% (like $7 million) never still return. Balancer bin pause all the pools wey dey vulnerable, dem put 20% white-hat bounty (~$25.6 million) for anybody wey fit return all the money, and dem warn users say danger dey for scam. For 24 hours after the Balancer palava, TVL drop from $442 million go $214.5 million and BAL token drop 8%. The koko market weakness make BTC and ETH fall 18% and 27% for the last one month. The security pipo Nansen and PeckShield confirm say na pure technical exploit dem suffer, no be say anybody thief keys. Any recovery wey dem go get, dem go share am pro-rata to every user wey the palava touch once full post-mortem report don come out. Experts dey warn say other DeFi platforms fit also get wahala if them get similar smart contract katakata.
Neutral
Di partial rekavri of $19.3 million inside osETH by StakeWise and di protokol quick way make dem restore confidence for Balancer afta di exploit. Short-time price pressure on BAL fit reduce as di rekavri stop farther waka waka and show say dem sabi manage risk well. But, di money wey no recover and di security wahala still dey, e limit any further price rise make people still dey cautious. As e be, di way dem solve di mata balance better and worse thing, e mean say market no go shake anyhow.