BNB Chain Issues Statement Following Balancer Hack! Here Are the Details

BNB Chain announced on the X platform that the recent Balancer protocol attack did not affect the projects in its ecosystem.

BNB Chain: Balancer Attack Didn’t Affect BNB Chain Projects, But Fork Projects Should Be Careful

However, all Balancer forked projects have been asked to exercise a high level of caution and consider temporarily ceasing operations if necessary.

The BNB Chain team stated, “We confirm that the Balancer vulnerability incident did not harm any BNB Chain projects. However, the risk remains for all projects of a similar nature.

“All teams should remain vigilant, increase security measures, and temporarily suspend operations in suspicious situations,” he said.

The statement also noted that the BNB Chain team and its security partners are closely monitoring the incident and have active monitoring and prevention mechanisms in place to address potential threats. The platform urged all developers to “prioritize security above all else.”

Blockchain security firm PeckShield previously announced that Balancer and its derivative projects suffered total losses exceeding $128 million in multi-chain attacks. This incident further underscored the serious threat vulnerabilities still pose in decentralized finance (DeFi) protocols.

BNB Chain emphasized that user funds are safe and stated that it will continue to closely monitor the situation across the ecosystem.

*This is not investment advice.